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Bunnell Corporation is a manufacturer that uses job$-$order costing. On January $1,$ the company's inventory balances were

as follows:

The company applies overhead cost to jobs using direct labor$-$hours. For this year, the company's predetermined

overhead rate of $$14\mathrm{.}00$ per direct labor$-$hour was based on a cost formula that estimated $$560,000$ of total manufacturing

overhead for an estimated activity level of $40,000$ direct labor$-$hours. The following transactions were recorded this 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 $($e$.$g$.,$ advertising, sales travel costs, and finished goods

warehousing$),$ $$382,000.$

e$.$ Incurred various manufacturing overhead costs $($e$.$g$.,$ 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.

Questions:

$4.$ What is the total manufacturing overhead applied to production for this year?

$5.$ What is the total manufacturing cost added to Work in Process for this year?

$8.$ What is the total actual manufacturing overhead cost incurred for this year?

$9.$ Is manufacturing overhead underapplied or overapplied for this year? By how much?

$10.$ What is the cost of goods available for sale for this year?

$13.$ Assuming the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goods sold for this year?

$14.$ What is the gross margin for this year?

$15.$ What is the net operating income for this year?