Bunnell Corporation is a manufacturer that uses job order costing. On January 1, the company's inventory balances were as follows Raw materials Work in process Finished goods $ 66,000 $33,600 $8,400 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 $13.50 per direct labor hour was based on a cost formula that estimated $540,000 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 5684,000, b. Raw materials used in production $646,400. All of of the raw materials were used as direct materials c. The following costs were accrued for employee services direct labor, $490,000; Indirect labor, S150,000, selling and administrative salaries, $319.000 dincurred various selling and administrative expenses (eg, advertising, sales travel costs, and finished goods warehousing). $423.000 e incurred various manufacturing overhead costs (eg. depreciation, insurance, and utilities) $390,000, 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 $1.623,300 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 $3,547500. The jobs cost $1633,300 to manufacture according to their job cost sheets. Foundational 3-12 (Algo) 12. What is the ending balance in Finished Goods? Finisted Goods Credii Debit Beginning balance Ending balance