as follows: Raw materials Work in process Finished goods $ 63,000 $ 22,200 $ 52,500 Part 12 of 15 points 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 o manufacturing overhead for an estimated activity level of 40.000 direct labor-hours. The following transactions were recorded for the year. eBook References a. Raw materials were purchased on account. $618,000 b. Raw materials use 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 an administrative salaries. $338.000 d. Incurred various selling and administrative expenses (eg. advertising, sales travel costs, and finished goods warehousing). $382,000. e incurred various manufacturing overhead costs (eg. depreciation, insurance, and utilities). $310.000 Manufacturing overhead cost was applied to production. The company actually worked 41.000 direct labor-hours or Jobs during the year 9 Jobs costing $1,372,600 to manufacture according to their job cost sheets were completed during the year h. Jobs were sold on account to customers during the year for a total of $3,202,500. The jobs cost $1.382.600 to manufacture according to their job cost sheets Held ter 30 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $382,000. e. Incurred various manufacturing overhead costs (e.g. depreciation, insurance, and utilities). $310,000 f. Manufacturing overhead cost was applied to production. The company actually worked 41.000 direct labor-hours on all jobs during the year g. Jobs costing $1.372.600 to manufacture according to their job cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3.202.500. The jobs cost $1.382.600 to manufacture according to their job cost sheets. 12 of 15 eBook Foundational 3-12 Print references 12. What is the ending balance in Finished Goods? Finished Goods Beg Bal 1.025 100 1.382,600 ch) End Bal