2 Part 2 of 15 0.29 H Dook Print o Pferences Required Information [The following information applies to the questions displayed below] Bunnell Corporation to a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Kaw materials work in process Finished goods The company applies overhead cost to jobs using direct labor-hours. For this year, the company's predetermined overhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded this year a Raw materials were purchased on account, $614,000. b. Raw materials used in production, $567,600. All of of the raw materials were used as direct materials e The following costs were accrued for employee services: direct labor, $450,000; Indirect labor. $150,000; selling and administrative salaries, $290,000. $ 84,500 $ 35,000 $ 44,100 d. Incurred various selling and administrative expenses (eg. advertising, sales travel costs, and finished goods warehousing). $375,000 e Incurred various manufacturing overhead costs (e.g. depreciation, Insurance, and utilities), $350,000 E Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year. Raw Materiale? Debid Bearning balanca Ending balance Raw Materials Creat