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 $11.50 per direct labor-hour was based on a cost formula that estimated $460,000 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. $618,000 b. Raw materials used in production, $569,400. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labor. $410,000, Indirect labor. $150,000, selling and administrative salaries. $338,000 d. Incurred various selling and administrative expenses (e.g. advertising, sales travel costs, and finished goods Warehousing). $382.000. e incurred various manufacturing overhead costs leg. depreciation, Insurance and utilities). $310,000 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 $1372.600 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 $3.202,500. The jobs cost $1.382.600 to manufacture according to their job cost sheets Foundational 3-6 (Algo) 6. What is the journal entry to record the transfer of completed jobs that is referred to in ltem g above? (If no entry is required for transaction/event, select "No journal entry required in the first account field.) View transaction list View journal entry worksheet No Transaction General Journal Debit Credit + 1 Finished goods Work in process