Question 4 8 points Save Answer Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Ending Balance Balance Raw materials $ 14,550 $ 22,550 Work in process $ 27,550 $ 9550 Finished Goods $ 62,550 $ 77,550 The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. At the beginning of the year, the company estimated that it would work 33,550 machine hours and incur $271,755 in manufacturing overhead cost. The following transactions were recorded for the year: Raw materials were purchased, $315,550. Raw materials were requisitioned for use in production, $307,550 ($280,450 direct and $27,100 indirect). The following employee costs were incurred: direct labor, $377,550; indirect labor, $96,550; and administrative salaries, $172,550. Selling costs, $147,550. Factory utility costs, $10,550. Depreciation for the year was $160,000 of which $144,000 is related to factory operations and $16,000 is related to selling, general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,110 machine-hours. Sales for the year totaled $1,285,000. Required: Do not enter any commas (except for the pre-determined Oll rate) and round to the nearest dollar Based on the data presented above, complete the following Table Pre-Determined OH Rate (round to 2 decimal places) Direct Materials used in Production Direct Labor Total Manufacturing Costs Cost of Goods Manufactured Adjusted Cost of Goods Sold Total Selling and Admin Exp Operating Income S377,550 S S S $336,100