Raterials Work in process Finished goods 3 63, $ 22,200 $ 52,see Part 2015 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 $1150 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 drect labor hours. The following transactions were recorded for the year bo o a. Raw materials were purchased on account 5618,000 b. Raw materials used in production, $569,400. All of of the raw materials were used as direct mators c. The following costs were accrued for employee services direct labor, $410,000 indirect labor, $150,000, ceiling and administrative salaries, $338.000 a. Incurred various seling and administrative expenses eg. advertising, sales travel costs, and finished goods warehousingi. $382.000 o incurred various manufacturing over and costs 9. depreciation Insurance, and utilities. $30,000 Manufacturing overhead cost was applied to production. The company actually worked 41000 direct labor hours on all Jobs during the year. Jobs costing 51372.600 to manufacture according to their job cost sheets were completed during the year. n 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 the job cost sheets Foundational 3-2 (Algo) 2 What is the ending balance in Raw Materials Beg bal 51000 Endal 51000