Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the companys inventory balances were as follows:

Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials 50,000 Work in process 30,800 Finished goods 43,200 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 $12.00 per direct labor-hour was based on a cost formula that estimated $480,000 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, $696,00o b. Raw materials use in production, $655,400. All of of the raw materials were used as direct c. The following costs were accrued for employee services: direct labor, $430,000; indirect labor, d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 g. Jobs costing $1,521,800 to manufacture according to their job cost sheets were completed h. Jobs were sold on account to customers during the year for a total of $3,255,000. The jobs materials. $150,000; selling and administrative salaries, $251,000. finished goods warehousing), $411,000 $330,000. direct labor-hours on all jobs during the year. during the year. cost $1,531,800 to manufacture according to their job cost sheets. Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows: Raw materials 50,000 Work in process 30,800 Finished goods 43,200 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 $12.00 per direct labor-hour was based on a cost formula that estimated $480,000 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, $696,00o b. Raw materials use in production, $655,400. All of of the raw materials were used as direct c. The following costs were accrued for employee services: direct labor, $430,000; indirect labor, d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 g. Jobs costing $1,521,800 to manufacture according to their job cost sheets were completed h. Jobs were sold on account to customers during the year for a total of $3,255,000. The jobs materials. $150,000; selling and administrative salaries, $251,000. finished goods warehousing), $411,000 $330,000. direct labor-hours on all jobs during the year. during the year. cost $1,531,800 to manufacture according to their job cost sheets