Required information 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 5.66,000 Work in process 5 33,600 Finished goods $ 38,400 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 $13.50 per direct labor-hour was based on a cost formula that estimated $540,000 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 $684.000, D. Raw materials used in production, $646.400. All of of the raw materials were used as direct materials c The following costs were accrued for employee services direct labor, $490,000; Indirect labor, $150.000, selling and administrative salaries, $319,000 dincurred various selling and administrative expenses (eg. advertising, sales travel costs, and finished goods warehousing). $423,000. e. Incurred various manufacturing overhead costs (eg. depreciation, insurance, and utilities), $390,000, 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 $1,623,300 10 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 $3,547.500. The jobs cost $1,633, 300 to manufacture according to their job cost sheets. Foundational 3-9 (Algo) 9. Is manufacturing overhead underapplied or overapplied for the year? By how much