Baab Corporation is a manutacturing tirm that uses job-order costing. The companys inventory balances were as follows at the beginning and end of the year: - The company applies overhead to jobs using a predetermined overhead rate based on machine hours. Al the beginning of the year, the company estimated that it would work 33.500 machine.hours and incur $268.000 in manufacturing overhead cost. The following transactions were recorded for the yean: - Raw materials were purchased, $315,500. - Raw materials were requisitioned for use in production, $307,500 (\$280,500 ditect and $27000 indiect) - The following employee costs were incurred: direct labor, $377,500; indirect labor, $96,500, and administrative. salaries, $172,500 - Selling costs, $147,500. - Factory utility costs, $10,500 - Depreciation for the year was $157,000 of which $140,000 is related to factory opmalions and $17,000 is related to selling, general, and administrative activities. - Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,100 machine hours. - Sales for the year totaled $1,273,000. Reauired: Baab Corporation is a manutacturing tirm that uses job-order costing. The companys inventory balances were as follows at the beginning and end of the year: - The company applies overhead to jobs using a predetermined overhead rate based on machine hours. Al the beginning of the year, the company estimated that it would work 33.500 machine.hours and incur $268.000 in manufacturing overhead cost. The following transactions were recorded for the yean: - Raw materials were purchased, $315,500. - Raw materials were requisitioned for use in production, $307,500 (\$280,500 ditect and $27000 indiect) - The following employee costs were incurred: direct labor, $377,500; indirect labor, $96,500, and administrative. salaries, $172,500 - Selling costs, $147,500. - Factory utility costs, $10,500 - Depreciation for the year was $157,000 of which $140,000 is related to factory opmalions and $17,000 is related to selling, general, and administrative activities. - Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,100 machine hours. - Sales for the year totaled $1,273,000. Reauired