Question: please helpnme complete this! I have been struggling for a while, and mainly I need the answer! Thank you! 1. Bakerston Company is a manufacturing

 please helpnme complete this! I have been struggling for a while,
please helpnme complete this!
I have been struggling for a while, and mainly I need the answer! Thank you!

1. Bakerston Company is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: BEGINNING BALANCE ENDING BALANCE Raw materials $14,000 $22,000 Work in process $27,000 $9,000 Finished goods $62,000 $77,000 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,000 machine-hours and incur $231,000 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased, $315,000. Raw materials were requisitioned for use in production, $307,000 ($281,000 direct and $26,000 indirect). The following employee costs were incurred: direct labor, $377,000; indirect labor, $96,000; and administrative salaries, $172,000. Selling costs, $147,000. Factory utility costs, $10,000. Depreciation for the year was $ 127,000 of which $120,000 is related to factory operations and $7,000 is related to selling, general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,000 machine- Sales for the year totaled $1,253,000. hours. Required: a. Prepare a schedule of cost of goods manufactured. b. Prepare an income statement. No titles necessary. (5 POINTS TOTAL)

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