12 Raw waterials Work in process Finished goods $ 63,000 $ 22,200 $ 52,500 Part 12 of 15 The company applies overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $11.50 per direct labor-hour was based on a cost formula that estimated $460,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: eBook Pet O References a. Raw materials were purchased on account. $618.000 b. Raw materials used in production, $569,400. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labor, $410,000; Indirect labor. $150,000: selling and administrative salaries. $338.000 d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousingi. $382,000. e. Incurred various manufacturing overhead costs (og depreciation, Insurance, and utilities). $310,000 Manufacturing overhead cost was applied to production. The company actually worked 41000 direct labor-hours on all jobs during the year. g. Jobs costing $1,372.600 to manufacture according to thelr job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,202500. The jobs cost $1.382.600 to manufacture according to their job cost sheets Foundational 3-12 (Algo) 12. What is the ending balance in Finished Goods? Finished Goods Bog bal