(Solved): The Fine manufacturing company uses job order costing system. The company uses machine hours to app ...

The Fine manufacturing company uses job order costing system. The company uses machine hours to apply overhead cost to jobs. At the beginning of 2015 , the company estimated that 200,000 machine hours would be worked and \( \$ 800,000 \) overhead cost would be incurred during 2015. The balances of raw materials, work in process (WIP), and finished goods at the heainnina of 2015 were as follows: The Fine manufacturing company recorded the following transactions during 2015: a Raw materials purchased on account, \( \$ 900,000 \). b Raw materials were requisitioned for use in production, \( \$ 775,000(\$ 700,000 \) direct materials and \( \$ 75,000 \) indirect materials). c. Direct labor labor, \( \$ 150,000 \); indirect labor, \( \$ 220,000 \); sales commission, \( \$ 180,000 \); and administrative salaries, \( \$ 400,000 \). d Sales travel costs were \( \$ 34,000 \). e Utility costs incurred in the factory, \( \$ 86,000 \). f Advertising expenses were \( \$ 360,000 \). g Depreciation for the year was \( \$ 700,000 \) ( \( \$ 560,000 \) relates to factory and \( \$ 140,000 \) relates to selling and administrative activities). h Insurance expired during the year, \( \$ 20,000(\$ 14,000 \) relates to factory operations and \( \$ 6,000 \) relates to selling and administrative activities). i Fine manufacturing company worked 160,000 machine hours. Manufacturing overhead was applied to production. j Goods costing \( \$ 1,800,000 \) were completed during the year. \( k \) The goods costing \( \$ 1,740,000 \) were sold to customers for \( \$ 3,000,000 \). Develop all the \( T \) accounts for this company