The following information applies to the questions displayed below Bunnell Corporation is a manufacturer that uses job order costing On January 1, the companys inventory balances were as follows Raw materials $ 66,000 Work in process $ 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 companys 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 Raw materials were purchased on account, $684,000 Raw materials use in production, $646,400 All of of the raw materials were used as direct materials The following costs were accrued for employee services direct labor, $490,000 indirect labor, $150,000 selling and administrative salaries, $319,000 Incurred various selling and administrative expenses (e g , advertising, sales travel costs, and finished goods warehousing), $423,000 Incurred various manufacturing overhead costs (e g , depreciation, insurance, and utilities), $390,000 Manufacturing overhead cost was applied to production The company actually worked 41,000 direct labor hours on all jobs during the year Jobs costing $1,623,300 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 $3,547,500 The jobs cost $1,633,300 to manufacture according to their job cost sheets 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 ) 2 What is the ending balance in Raw Materials 3 What is the journal entry to record the labor costs incurred during the year (If no entry is required for a transaction event, select No journal entry required in the first account field )

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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 companys inventory balances

[The following information applies to the questions displayed below.]

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


Raw materials	$	66,000
Work in process	$	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 companys 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:

Raw materials were purchased on account, $684,000.
Raw materials use in production, $646,400. All of of the raw materials were used as direct materials.
The following costs were accrued for employee services: direct labor, $490,000; indirect labor, $150,000; selling and administrative salaries, $319,000.
Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $423,000.
Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000.
Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on all jobs during the year.
Jobs costing $1,623,300 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 $3,547,500. The jobs cost $1,633,300 to manufacture according to their job cost sheets

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.)

2. What is the ending balance in Raw Materials?

3. What is the journal entry to record the labor costs incurred during the year? (If no entry is required for a transaction/event, select "No journal entry required" in the first account field.)