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Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances were as follows:

Raw materials	$ 65,000
Work in process	$ 20,400
Finished goods	$ 52,800

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 $15.75 per direct labor-hour was based on a cost formula that estimated $630,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year:

- Raw materials were purchased on account, $646,000.

- Raw materials used in production, $608,000. All of of the raw materials were used as direct materials.

- The following costs were accrued for employee services: direct labor, $580,000; indirect labor, $150,000; selling and administrative salaries, $317,000.

- Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $376,000.

- Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $480,000.

- Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year.

- Jobs costing $1,765,050 to manufacture according to their job cost sheets were completed during the year.

- Jobs were sold on account to customers during the year for a total of $2,970,000. The jobs cost $1,775,050 to manufacture according to their job cost sheets.

Required:

1. What is the journal entry to record raw materials used in production? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)

ter 3 - Foundational 15 1 pes not indicate completion. Check my work mode : This shows what is correct or incorrect for the work y Retur u. Incurred various selllily and administrative expenses (e.y., auverusilly, sales laver costs, and lifistied youus warehousing), $376.000. e. Incurred vario ad costs (e.g., depreciation, insurance, and utilities), $480,000. 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 $1,765,050 to manufacture according to their job cost sheets were completed during the year. of 15 h. Jobs were sold on account to customers during the year for a total of $2,970,000. The jobs cost $1,775,050 to manufacture according to their job cost sheets. Required: 1. What is the journal entry to record raw materials used in production? (If no entry is required for a transac No journal entry required" in the first account field.) x Answer is complete but not entirely correct. No Transaction General Journal Credit a Work in process 608,000 Raw materials 646,000 x No journal entry required No journal entry required No journal entry required No journal entry required X Q Search LO XI R Xd. Incurred various selling an warehousing), $376,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and direct labor-hours on al f. Manufacturing overhead cost was applied to production. The company jobs during the year. g. Jobs costing $1,765,050 to manufacture according to their job cost sheets were completed during the year. of 15 h. Jobs were sold on account to customers during the year for a total of $2,970,000. The jobs cost $1,775,050 to manufacture according to their job cost sheets. 3. What is the journal entry to record the labor costs incurred during the year? (If no entry is required for a transaction/event, "No journal entry required" in the first account field.) Answer is complete and correct. Debit Credit No Transaction General Journal 1 a Work in process 580,000 Manufacturing overhead 150,000 Selling and administrative salaries 317,000 Wages payable 1,047,000 No journal entry required x No journal entry required X Q Search LO m N XJw Canvas M Gmail UW LW MyOW Chapter 3 - Foundational 15 i Check my work mode : This shows what is correct or incorrect for the work you have completed s UUIIIIIISHULIVE SUIUIIES , QUIN,VUU . d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods 6 warehousing), $376,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $480,000. pplied to production. The company actually worked 41,000 direct labor-hours on all f. Manufactur jobs during the year. Part 6 of 15 g. Jobs costing $1,765,050 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 $2,970,000. The jobs cost $1,775,050 to manufacture according to their job cost sheets. 10 points 6. What is the journal entry to record the transfer of completed jobs that is referred to in item g above? (If no entry is required fo transaction/event, select "No journal entry required" in the first account field.) Answer is complete and correct. No Transaction General Journal Debit Credit 1 a Finished goods 1,765,050 Work in process 1,765,050 No journal entry required X No journal entry required X No journal entry required X No journal entry required X Mc Graw Hill Q Search N E XIjobs during the year. manufacture according to the!! Part 7 of 15 g. Jobs c h. Jobs were sold on account to customers during the year for a total of $2,970,000. The jobs manufacture according to their job cost sheets. 10 points 7. What is the ending balance in Work in Process? x Answer is complete but not entirely correct. Work in Process Debit Credit Beginning balance 20,400 (b) 608,000 1,765,050 (9) (c) Q Search O XJ R X ENG 2 4 X 1:03 PM 4/13/2023C. THE NUNUWILLY LUSIS WERE ALLIuEu 12 administrative salaries, $317,000. d. Incurred various selling and administrative expenses (e.g., advertising, sale warehousing), $376,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $480,000. f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours o Part 12 of 15 jobs during the g. Jobs costing $1,765,050 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 $2,970,000. The jobs cost $1,775,050 to 10 manufacture according to their job cost sheets. points 12. What is the ending balance in Finished Goods? Answer is not complete. Finished Goods Debit Credit Beginning balance 52,800 (b X 1,765,050 1,775,050 Ending balance 42,800 Mc Graw Hill Q Search O E