Problem $5-19$ Journal Entries; T$-$Accounts; Cost Flows $[$LO$4,$ LO$5,$ LO$7]$ Ravsten Company uses a job$-$order costing system. On January $1,$ the beginning of the current year, the company's inventory were as follows: Raw materials Work in process Finished goods The company applies overhead cost to jobs on the basis of machine$-$hours. For the current year, the company estimated that work $36,000$ machine$-$hours and incur $157,320$ in manufacturing overhead cost. The following transactions were recorded f year: $17,20011,20032,400$ a$.$ Raw materials were purchased on account: $206,000.$ b$.$ Raw materials were requisitioned for use in production:$196,000(80\%$ direct and $20\%$ indirect$).$ c$.$ The following costs were incurred for employee services: Direct labour Indirect labour Sales commissions Administrative salaries $166,00028,20037,20082,400$ d$.$ Heat, power, and water costs were incurred in the factory: $43,200.$ e$.$ Prepaid insurance expired during the year:$11,200(90\%$ relates to factory operations, and $10\%$ relates to selling and admin activities$).$ f$.$ Advertising costs were incurred, $51,200.$ g$.$ Depreciation was recorded for the year:$61,200(85\%$ relates to factory operations, and $15\%$ relates to selling and administ activities$).$ h$.$ Manufacturing overhead cost was applied to production. The company recorded $40,000$ machine$-$hours for the year. i$.$ Goods that cost $494,400$ to manufacture according to their job cost sheets were transferred to the finished goods wareho j$.$ Sales for the year totalled$742,000$ and were all on account. The total cost to manufacture these goods according to their sheets was $487,000.$ Journal entry worksheet $1)2(3)4$ Advertising costs were incurred, $ $51,200.$ Note: Enter debits before credits.Journal entry worksheet $(1)2$ Heat, power, and water costs were incurred in the factory: $ $43,200.$ Note: Enter debits before credits.Journal entry worksheet $(1)456789$ Sales for the year totalled $ $742,000$ and were all on account. Note: Enter debits before credits.Problem $5-19$ Journal Entries; T$-$Accounts; Cost Flows $[$LO$4,$ LO$5,$ LO$7]$ Ravsten Company uses a job$-$order costing system. On January $1,$ the beginning of the current year, the company's inventor were as follows: The company applies overhead cost to jobs on the basis of machine$-$hours. For the current year, the company estimated tha work $36,000$ machine$-$hours and incur $ $157,320$ in manufacturing overhead cost. The following transactions were recorded f year: a$.$ Raw materials were purchased on account: $ $206,000.$ b$.$ Raw materials were requisitioned for use in production: $ $196,000(80$