Connect Chapter 3 - Due February 16, 2021 Help Sar 9 Part 9 of 15 Required Information The Foundational 15 (LO3-1, LO3-2, LO3-3, LO3-4) [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: 10 points Raw materials Work in process Finished goods $ 50,500 $ 25,000 # 38,100 ebook Print 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 $11.75 per direct labor-hour was based on a cost formula that estimated $470,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year: References a. Raw materials were purchased on account, $592,000. b. Raw materials used in production, $557,000. All of of the raw materials were used as direct materials. c. The following costs were accrued for employee services: direct labor, $420,000; Indirect labor, $150,000; selling and administrative salaries, $295,000 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $381,000. e. Incurred various manufacturing overhead costs (eg, depreciation, Insurance, and utilities), $320,000 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 $1,399,450 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 $2,925,000. The jobs cost $1,409,450 to manufacture according to their job cost sheets. Foundational 3-9 Non ok jobs during the year. g. Jobs costing $1,399,450 to manufacture according to their job cost sheets were h. Jobs were sold on account to customers during the year for a total of $2,925,00 manufacture according to their job cost sheets. at nces Foundational 3-9 9. Is manufacturing overhead underapplied or overapplied for the year? By how much