15 Raw materials Work in process Finished goods $ 63,800 $ 22,200 $ 52,500 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 matertals. 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 te.g., advertising, sales travel costs, and finished goods warehousing). $382.000. e Incurred various manufacturing overhead costs (eg. depreciation, Insurance, and utilities). $310,000 f. Manufacturing overhead cost was applied to production. The company actually worked 41000 direct labor-hours on all Jobs during the year. g. 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 3-10 (Algo) 10. What is the cost of goods available for sale during the year? Cost of goods avatable for sale