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 Work in process Finished goods $ 50, see $ 25,000 $ 38,180 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 $11.75 per direct labor-hour was based on a cost formula that estimated $470,000 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, $592,000. b. Raw materials used in production, $557,000. All of of the raw materials were used as direct materials c The following costs were accrued for employee services: direct labor, $420,000; indirect labor, S150,000, selling and administrative salaries, $295,000. d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $381,000. e. Incurred various manufacturing overhead costs (eg. depreciation, insurance, and utilities). $320,000 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 $1,399.450 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 $2.925,000. The jobs cost $1.409.450 to manufacture according to their job cost sheets customers during the year for a total of $2,925,000. The jo manufacture according to their job cost sheets. Foundational 3-8 (Algo) 8. What is the total amount of actual manufacturing overhead cost incurred during the year? Total actual manufacturing overhead cost Foundational 3-9 (Algo) 9. Is manufacturing overhead underapplied or overapplied for the year? By how much? Overapplied overhea Underapplied overhead Foundational 3-10 (Algo) 10. What is the cost of goods available for sale during the year? Cost of goods available for sale 11. What is the journal entry to record the cost of goods sold referred to in item h above? (If no en transaction/event, select "No journal entry required" in the first account field.) View transaction list Journal entry worksheet 1 Record the cost of goods sold to the customer. Note: Enter debits before credits. Transaction General Journal Debit Credit Record entry Clear entry View general journal eBook Print Foundational 3-12 (Algo) References 12. What is the ending balance in Finished Goods? Beg bal. (6) Finished Goods 38,100 1,409,450 1,399,450 28,100 56,200 End. bal