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write the journal entries of this transactions and prepare income statement

Exercice. 1.: Job Order Coating : Ana Corporation in a manutacturer that uses job-order conting On January 1, the beginning of its ficcal yoar, the company's invoritory batances ware as: The company applies overhead cost to jobs on the basis of machine hours worked. For the current year, the company's predetermined overhead rate was based on a cost formula that estimated $450,000 of total manufacturing overhead for an estimated activity level of 75,000 machinehours. The following transactions were recorded for the year: Raw materials were purchased on account, $410,000. Raw materials were requisitioned for use in production, $380,000 ( $380,000 direct materials and $20,000 indirect materials). The following costs were accrued for employee services: direct labor, $75,000; indirect labor, $110,000; sales commissions, \$90,000; and administrative salaries, $200,000. Sales travel costs were $17,000. Utility costs in the factory were $43,000. Advertising costs were $180,000. Depreciation was recorded for the year, $350,000 ( 80% relates to factory operations, and 20% relates to selling and administrative activities). Insurance expired during the year, $10,000 (70\% relates to factory operations, and the remaining 30% relates to selling and administrative activities). Manufacturing overhead was applied to production. Due to greater than expected demand for its products, the company worked 80,000 machine-hours on all jobs during the year. Goods costing $900,000 to manufacture according to their job cost sheets were completed during the year. Goods were sold on account to customers during the year for a total of $1,500,000. The goods cost $870,000 to manufacture according to their job cost sheets

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