3 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 $12.75 per direct labor-hour was based on a cost formula that estimated $510,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor- hours. The following transactions were recorded for the year: Part 3 of 15 a. Raw materials were purchased on account, $654,000. b. Raw materials use in production, $618,800. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $460,000; indirect labor, $150,000; 0.2 points selling and administrative salaries, $270,000 d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $417,000 e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $360,000. f Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct g. Jobs costing $1,539,250 to manufacture according to their job cost sheets were completed during the h. Jobs were sold on account to customers during the year for a total of $3,172,500. The jobs cost eBook labor-hours on all jobs during the year year $1,549,250 to manufacture according to their job cost sheets. Foundational 3-3 3. What is the journal entry to record the labor costs incurred during the year? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet Record the accrued labor costs Note: Enter debits before credits. Transacti General Journal Debit Credit