Raw materials Work in process Finished goods $ 63,00 $ 22,200 $ 52,500 115 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 $150 per direct labor-hour was based on a cost formula that estimated $460,000 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 $618,000 b. Raw materials used in production, $569,400. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services direct labor, $410,000, Indirect labor. $150,000, seling and administrative salaries. $338,000 d. Incurred various selling and administrative expenses (0.9. advertising, sales travel costs, and finished goods Warehousing. $382.000. . Incurred various manufacturing overhead costs (9. depreciation, Insurance and ulties). $310.000. 1. Manufacturing overhead cost was applied to production. The company actually worked 41000 direct labor hours on Jobs during the year 9 Jobs costing $1.372.600 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 $3.202,500 The jobs cost $1,382.600 to manufacture according to their job.cost sheets. Foundational 3-7 (Algo) 7. What is the ending balance in Work in Process? Work in Process Berbal Endbal