Raw materials Work in process Finished goods $ 72,500 $ 18,200 $46,500 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 $15.50 per direct labor-hour was based on a cost formula that estimated $620,000 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, $628,000 b. Raw materials used in production, $598.000. All of of the raw materials were used as direct materials. c. The following.costs were accrued for employee services: direct labor, $570,000; Indirect labor $150,000; selling and administrative salaries, $266,000. d. Incurred various selling and administrative expenses (eg. advertising, sales travel costs, and finished goods warehousing). $418,000. e. Incurred various manufacturing overhead costs (e.g. depreciation, insurance, and utilities). $470,000 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 $1717.900 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 $3.225,000. The jobs cost $1727900 to manufacture according to their job cost sheets. D 6. What is the journal entry to record the transfer of completed jobs that is referred to in item g above? (If no entry is required for a transaction/event, select "No journal entry required in the first account field.)