\"We? " Raw materials s 60,500 Work in process 5 20.800 Finished 9004:\" $ 57,600 The company applies overhead cost to jobs on the basis of direct Iaborhours. For the current year, the company's predetermined overhead rate of $11.25 per direct labor-hour was based on a cost formula that estimated $450,000 of tota 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. $622,000. in. Raw materials used In production, $591,800. All of of the raw materials were'used as direct materials. c. The following costs were accrued for employee services: direct labor, $400,000; Indirect labor, $150,000; selling and administrative salaries, $280,000. d. Incurred various selling and administrative expenses (e.g.. advertising, sales travel costs, and nished goods warehousing). $400,000. e. Incurred various manufacturing overhead costs (eg, depreciation. Insurance, and utilities). $300,000. f. 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 $1,360,750 to manufacture according to theirjob cost sheets were completed during the year. h. Jobs were sold on account to customers during the year for a total of $3,330,000. The jobs cost $1,370,750 to manufacture according to thelrjob cost sheets. Foundational 3-10 (N90) 10. What Is the cost of goods available for sale during the year