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 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 $16.25 per direct labor hour was based on a cost formula that estimated $650.000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year a. Row materials were purchased on account, $510,000 b. Raw matenals used in production, $480.000 All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labor, $600,000; indirect labor, $150,000, selling and administrative salaties. $240,000. d. Incurred various selling and administrative expenses (eg, advertisingi sales travel costs, and finished goods warehousing), $367,000 e. Incurred various manufacturing overtiead costs (e.g. depreciation, insurance, and utilties), $500,000 f. 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 $1,680,000 to manufacture according to their job cost sheets were completed during the year. in Jobs were sold on account to customers during the year for a total of $2.800,000. The jobs cost $1,690,000 to mantacture according to their job cost sheets Required: 1. What is the joumal entry to record raw materlats used in production? (If no entry is required for a tronsaction/event, select "No journal entry required in the first account field.) Required: 1. What is the joumal entry to record raw materials used in production? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.) Journal entry worksheet Record the faw materials used in production. Motei tinter debits beforie credits