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  3. ravsten company uses a job-order costing system. o

Ravsten Company uses a job-order costing system. On January 1, the beginning of the current...

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Accounting

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Ravsten Company uses a job-order costing system. On January 1, the beginning of the current year, the company's inventory balances were as follows: $24,e00 $13,200 $31,600 Finished goods The company applies overhead cost to jobs on the basis of machine-hours. For the currerkyear, the company estimated that it would work 37,600 machine-hours and incur $161,680 in manufacturing overhead cost. The following transactions were recorded for the year a. Raw materials were purchased on account: $232.000. b. Raw materials were requisitioned for use in production: $206,000 (85% direct and 15% indirect). c. The following costs were incurred for employee services: Direct labour Indirect labour Sales commissions Administrative salaries s 30,200 s 48,800 86,400

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