Raw materials Work in process Finished goods $ 62,500 $ 23,200 $ 36,900 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 $11.00 per direct labor-hour was based on a cost formula that estimated $440,000 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, $694,000. b. Raw materials used in production, $644,800. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services direct labor, $390,000; Indirect labor, $150,000; selling and administrative salaries, $246,000 d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing). $430,000. e Incurred various manufacturing overhead costs leg. depreciation, Insurance, and utilities). $290,000 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct lobor-hours on all jobs during the year 0 Jobs costing $1,403,100 to manufacture according to their job cost sheets were completed during the year. n. Jobs were sold on account to customers during the year for a total of $2,827,500. The Jobs cost $1,413,100 to manufacture according to their job cost sheets Foundational 3-10 (Algo) 10. What is the cost of goods available for sale during the year? Cost of goods available for sale I. f15 View transaction list Journal entry worksheet ed