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 $ 60,500 $ 20,800 $ 57,600 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 $11.25 per direct labor-hour was based on a cost formula that estimated $450,000 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. $622,000, b. Raw materials used in production, $591,800 All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services direct labor, $400,000, Indirect labor. $150,000, celling and administrative salaries. $280,000. d Incurred various selling and administrative expenses (e.9, advertising, sales travel costs, and finished goods warehousing), $400,000 e. Incurred various manufacturing overhead costs (eg, depreciation, Insurance, and utilities). $300.000 Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all Jobs during the year 9 Jobs costing $1360,750 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 $3,330,000. The jobs cost $1.370,750 to manufacture according to their job cost sheets. 4 5. What is the total manufacturing cost added to Work in Process during the year? Total manufacturing cost 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 $ Ge, see $ 20,80 $ 57,680 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 $11.25 per direct labor-hour was based on a cost formula that estimated $450,000 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 $622,000. b. Raw materials used in production, $691,800. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $400,000: Indirect labor. $150,000; selling and administrative salaries, $280,000. d. Incurred various selling and administrative expenses (eg. advertising, sales travel costs, and finished goods warehousing). $400,000 e Incurred various manufacturing overhead costs (eg. depreciation, Insurance, and utilities). $300,000 1. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all Jobs during the year. 9. Jobs costing $1,360,750 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 $3,330,000. The jobs cost $1.370750 to manufacture according to their job cost sheets. 6. What is the journal entry to record the transfer of completed jobs that is referred to in Item g above? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Vlew transaction lat Journal entry worksheet Record the manufactured goods completed during this year. Note: Enter debits before credits Transaction General Journal Debit Credit Record entry Clear entry View general Journal