Gational 15 Hquireo information [The following information applies to the questions displayed below.] 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 $ 75,500 19,600 $ 59,400 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 $14.00 per direct labor-hour was based on a cost formula that estimated $560,000 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, $606,000. b. Raw materials used in production, $561,200. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $510,000; Indirect labor, $150,000: selling and administrative salaries, $257,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing). $382,000. e. Incurred various manufacturing overhead costs (e.g. depreciation, insurance, and utilities), $410,000 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 $1,558,300 to manufacture according to their job cost sheets were completed during the year Jobs were sold on account to customers during the year for a total of $3,075,000. The jobs cost $1,568,300 to manufacture according to their job cost sheets. h. 7. What is the ending balance in Work in Process? > 2 W #3 E S D Work in Process < Prev 7 8 9 15 of 15 Next > Q % $ 14 G Search or type URL 55 6 &7 R T Y U #00 * 8 69 1 9 0 P F G H J K L