QUESTION 1 Save Answer 10 points Bauer Hockey is a manufacturer of ice hockey equipment. They use job-order costing for supplying equipment's to the NHL with direct labor-hours as allocation base. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year $750 60 direct labor-hours Beginning inventories: Raw materials Work in process Finished goods $48 $16 $39 Ending Work in Process $15 Results of operations: Raw materials purchased on account $620 Raw materials (all direct) requisitioned for use in production $417 Direct labor cost (incurred but unpaid) $545 Actual direct labor-hours 46 direct labor-hours