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Question 1 i have two more questions im posting it right after this! thanks for helping

QUESTION 1 The GO-Magic company uses job-order costing system. The following data relate to the first quarter of the company's fiscal year a. Materials and supplies purchased on account $690,000 b. Materials issued from store room to production,$700,000 (80% direct materials and 20% indirect materials). c. Utility costs incurred in the factory $90,000 d. Cost of employee salaries a. Direct Labour $900,000 b. Indirect cost and support workers in the factory $230,000 c. Marketing salaries $650,000 e. Advertising cost incurred = $800,000 f. Prepaid insurance expired during the quarter , $700,000.[ the ratio of insurance production to admin insurance = 3: 1] g. Rental cost = $360,000 ( selling cost consists of 25% of the total rental cost) h. Company applies manufacturing overhead based on machine hours. Budgeted overhead cost =$200,000 and Estimated machine hours = 45000 hours. Actual machine hours worked = 40,000 hours. Calculate the PR and journalize the applied cost i. Goods costing to produce =$3,400,000 were completed during the quarter Sales on credit = $6,000,000. REQUIRED 1. Prepare Journal entries for the quarter 2. Is overhead cost under-applied or over-applied? What adjustment should be made to correct the cost of goods account

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