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Required information The Foundational 1 5 ( Algo ) [ LO 3 - 1 , LO 3 - 2 , LO 3 - 3 ,

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The Foundational 15(Algo)[LO3-1, LO3-2, LO3-3, LO3-4]
[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 $72,500
Work in process $18,200
Finished goods $46,500
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 $15.50 per direct labor-hour was based on a cost formula
that estimated $620,000 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, $628,000.
b. Raw materials used in production, $598,000. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $570,000; indirect labor,
$150,000; selling and administrative salaries, $266,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished
goods warehousing), $418,000.
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $470,000.
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 $1,717,900 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 $3,225,000. The jobs cost
$1,727,900 to manufacture according to their job cost sheets.
What is the ending balance in Raw Materials?
What is the total amount of manufacturing overhead applied to production during the year?
What is the total manufacturing cost added to Work in Process during the year?
What is the ending balance in Work in Process?
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