Hogle Corporation is a manufacturer that uses job-order costing. On Jan inventory balances were as follows: Raw materials. . . $20,000 Work In process. $15,000 Finished goods . $30,000 The company applies overhead cost to jobs on the basis of machine-hours worked. For the current year, the company's predetermined overhead rate was based on a cost formula that esti- mated $450,000 of total manufacturing overhead for an estimated activity level of 75,000 machine- hours. The following transactions were recorded for the year: a. Raw materials were purchased on account, $410,000. b. Raw materials were used in production, $380,000 ($360,000 direct materials and $20,000 indirect materials). C. The following costs were accrued for employee services: direct labor, $75,000; indirect labor, $1 10,000; sales commissions, $90,000; and administrative salaries, $200,000. d. Sales travel costs (on account) were $17.000. e. Utility costs (on account) in the factory were $43,000. f. Advertising costs (on account) were $180.000. g. Depreciation was recorded for the year. $350,000 (80% relates to factory assets, and 20% relates to selling and administrative assets). h. Insurance expired during the year. $10.000 (70% relates to factory operations, and the remain- ing 30% relates to selling and administrative activities). 1. Manufacturing overhead was applied to production. Due to greater than expected demand for its products. the company worked 80.000 machine-hours on all jobs during the year. J . Jobs costing $900.000 to manufacture according to their job cost sheets were completed during the year. K. Jobs were sold on account to customers during the year for a total of $1.500.000. The jobs cost (8701 Min to manufacture according in their ish net chaare 5.70 x 5.92 in 24-C Sunny 10 16ENG 6:48 PM 2022-07-17 1him SonicMast $ 10 f 12 pause prt sc break sysrq delete insert home pgup pgdn 0 backspace num Ik scr