Dacosta Corporation had only one job in process on May 1. The job had been charged with $1,850 of direct materials. $6.990 of direct labor, and $9.950 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of $18.50 per direct labor-hour. During May, the following activity was recorded: $ 8,550 $38,050 $39,350 Raw materials (all direct materials Beginning balance Purchased during the month Used in production Labor: Direct labor-hours worked during the month Direct labor cost incurred Actual manufacturing overhead costs incurred Inventories: Raw materials, May 30 Work in process, May 30 | 1,950 $24,560 $33,350 $16,950 Work in process Inventory on May 30 contains $3,750 of direct labor cost Raw materials consist solely of items that are classified as direct materials. The cost of goods manufactured for May was Multiple Choice 0 $97120 0 $110.610 0 $99.985 0 $101,825 Baka Corporation applies manufacturing overhead on the basis of direct labor-hours. At the beginning of the most recent year, the company based its predetermined overhead rate on total estimated overhead of $244,500 and 9.500 estimated direct labor-hours. Actual manufacturing overhead for the year amounted to $245,200 and actual direct labor-hours were 6.200 The overhead for the year was: (Round your Intermediate calculations to 2 decimal places.) 1 Multiple Choice $84.912 underapplied 0 $85,612 underapplied 0 $84.912 overapplied 0 $85.612 overapplied 0 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 $ 34,500 $ 35,000 $ 44,1ee 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 $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 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, $614,000 b. Raw materials used in production, $567,600. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services: direct labor. $450.000. Indirect labor. $150,000: selling and administrative salarles. $290,000 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $375,000 e. Incurred various manufacturing overhead costs (e.g.. depreciation, Insurance, and utilities). $350,000. 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 $1,461,900 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 $3,172,500. The jobs cost $1.471.900 to manufacture according to their job cost sheets Foundational 3-6 6. What is the journal entry to record the transfer of completed jobs that is referred to in tem g above? (If no entry is required for e transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the manufactured goods completed during this year. Note: Enter debits before credits General Journal Finished goods | Work in CARS Debit Credit 1.461 9001 1451 l 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 $ 34, see $35.ee 4,10 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 $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 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. 5614.000 b. Raw materials used in production, $567,600. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services direct labor. $450.000. Indirect labor. $150.000, selling and administrative salarles. $290.000 d. Incurred various selling and administrative expenses leg. advertising, sales travel costs, and finished goods warehousingi. $375.000 e. Incurred various manufacturing overhead costs leg. depreciation Insurance, and utes. $350.000 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 $1,461,900 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 $3.172.500. The jobs cost $1.471.900 to manufacture according to their job cost sheets Foundational 3-11 11. What is the journal entry to record the cost of goods sold referred to in tem habove? (f no entry is required for a transaction/event, select "No lournal entry required in the first account field View transaction list Journal entry worksheet Record the cost of goods sold to the customer. Note: Encar dobits before credits Transaction General Jouma Cost of goods sold 1.461.900