Quark spy equipment manufactures espionage equipment. quark uses a job-order costing systemand applies overhead to jobs on the basis of direct labor-hours. for the current year, quark estimatedthat it would work 100,000 direct labor-hours and incur $20,000,000 of manufacturing overhead cost. the following summarized information relates to january of the current year. the raw materialspurchased include both direct and indirect materials. raw materials purchased on $1,412,000direct materials requisitioned into $1,299,500indirect materials requisitioned into $98,000direct labor cost (7,900 hours @ $40 per $316,000indirect labor cost (10,200 hours @ $16 per $163,200depreciation on the factory $190,500depreciation on the factory $890,700utilities for the $79,600cost of jobs $2,494,200cost of jobs $2,380,000sales (all on $3,570,000use the following chart of accountsaccounts payableaccounts receivableaccumulated depreciation - buildingaccumulated depreciation - equipmentadministrative expenseallowance for bad debtbad debt expensecashcommon stock at parcost of goods solddepreciation expensedividend common stockdividend preferred goods inventoryinsurance expenseinterest expenseinterest payableinterest receivableinterest revenueinventoryloss/gain on sale of stockloss/gain on sale of equipmentmanufacturing overheadmiscellaneous expensenote payable