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[ The following information applies to the questions displayed below. ] Bunnell Corporation is a manufacturer that uses job - order costing. On January 1

[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:
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 $14.25 per direct labor-hour was based on a cost formula that estimated $570,000 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, $634,000.
b. Raw materials used in production, $598,400. All of of the raw materials were used as direct materials.
c. The following costs were accrued for employee services: direct labor, $520,000; indirect labor, $150,000; selling and
administrative salaries, $337,000.
d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods
warehousing), $461,000.
e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $420,000.
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 $1,645,750 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 $3,360,000. The jobs cost $1,655,750 to
manufacture according to their job cost sheets.
What is the ending balance in Raw Materials?
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