Required information (The following informution applies to the Guestions clispliyed belowe) Bunneli Coiporaton is a manufacturer that uses job-order costing On January 1 , the companyli imentory balances wete as folows. The company applies overhead cost to jobs using diect Labor-hours. For this yeat, the company/s predetermined overhead rate of $1175 per direst labor-hour was based on a cost formula that estimsted $470.000 of tocal manufacturing ovethead for an estimated activity level of 40.000 direct labor hours. The following transactions were recorded thrs year: a. Raw materials were purchased on account, $592,000 b. Raw enaterials used in production, 5557000 A of of the raw materials were uned as direct muterials. c. The following costs were accrued for employee services: direct labor, $420,000, indirect labor, $150,000, seting and adminstrasve satanes $295,000 warehousingh $3891,000 e. Incured various manufacturing ovethead costs (e- g- depreciation, insurance, and ublities) 5320,000 t Manulacturing overthead cast was appled to production. The company actualy worked 41000 direct laboc hours on all jobs during the year: o Jots costing $1,399,450 to manutacture according to their job cost sheets weve completed during the yeant h Jobs were sold on accouns to cuatomers durng the year for a total of $2,925,000. The jobs cost $1,409,450 to manulacture according to their job cost sheets. 3. What is the joumal entry to record the Labor coss for this year? Note: If no entry is required for s trensoction/event, select "No joumal entry required" in the first sccount field