Saved apters 1-4 & 7 Recap 19 Raw materials Work in process Finished goods 349,800 $ 28,600 $ 47,100 art 7 ore 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 $15.25 per direct labor-hour was based on a cost formula that estimated $610,000 of total manufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions were recorded for the year Onts 8 02:31 BOOK a Raw materials were purchased on account, $562,000. b. Raw materials used in production, $513,200. All of of the raw materials were used as direct materials The following costs were accrued for employee services direct labor, 5560,000, indirect labor $150,000, selling and administrative salaries $249.000 d. Incurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $401.000, e incurred various manufacturing overhead costs (eg, depreciation, insurance, and utilities), S460,000 1 Manufacturing overhead cost was applied to production The company actually worked 41.000 direct labor-hours on all jobs during the year 9 Jobs costing S1614 850 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 $3,397500. The jobs cost $1,624,850 to manufacture according to their job cost sheets Pem References 11. What is the journal entry to record the cost of goods sold referred to in item h above? (If no entry is required for o transaction/event, select "No journal entry required in the first account field.) View transaction list Journal entry worksheet Record the cost of goods sold to the customer MC GO