Part 0.66 Don 11 Skipped References Required 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 $19,400 $ 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 (eg, advertising, sales travel costs, and finished goods e. warehousing), $382,000 Incurred various manufacturing overhead costs (eg, 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. h. 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 11. What is the journal entry to record the cost of goods sold referred to in item h above? (If no entry is required for a Check my wark