Bunnell Corporation is a manufacturer that uses job-order costing On January 1 the company's inventory balances were as follows: Raw materials Work in process Finished goods $ 48,000 $ 18,000 $ 35,000 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 $16.25 per direct labor-hour was based on a cost formula that estimated $650,000 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, $510.000 b. Raw materials used in production, $480,000. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services direct labor $600,000, indirect labor, $150,000, selling and administrative salaries, $240,000 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing) $367000 e. Incurred various manufacturing overhead costs (eg, depreciation Insurance, and utilities), $500,000 1. 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 $1680,000 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 $2 800,000 The Jobs cost $1690,000 to manufacture according to their job cost sheets Foundational 3-7 7. What is the ending balance in Work in Process? Work in Process Beg Bal End. Bal