Bunnell Corporation is a manufacturer that uses job-order costing. On January 1 , the company's inventory balances were as follows: The company applles overhead cost to jobs on the basis of direct labor-hours. For the current year, the company's predetermined overhead rate of $13.25 per direct labor-hour was based on a cost formula that estimated $530.000 of total manufacturing overhead for an estimated activity level of 40.000 direct labor-hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $708,000. b. Raw materials used in production, $666.400. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $480,000; indirect labor, $150,000; selling and administrative salaries, $335,000. d. Incurred various selling and administrative expenses (e.g. advertising. sales travel costs, and finished goods warehousing). $397.000. e. Incurred various manufacturing overhead costs (e,g. depreciation, insurance, and utilities), $380,000. f. Manufacturing overhead cost was applied to production. The company actually worked 41.000 direct labor-hours on all jobs during the year. 9. Jobs costing $1,606,150 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 $3.165.000. The jobs cost $1,616.150 to manufacture according to their job cost sheets. 13. Assuming that the company closes its underapplied or overapplied overhead to Cost of Goods Sold; what is the adjusted cost of goods sold for the year? 14. What is the gross margin for the year