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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 $ 38,400 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, $684,000. 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, $150,0o00; selling and administrative salarles, $319,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $423,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000. 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 $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 $3,547,500. The Jobs cost $1,633,300 to manufacture according to their job cost sheets. undational 3-15 (Algo) What is the net operating income for the year? Answer is complete but not entirely correct. et operating income s 795,700

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 $ 38,400 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, $684,000. 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, $150,0o00; selling and administrative salarles, $319,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $423,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $390,000. 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 $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 $3,547,500. The Jobs cost $1,633,300 to manufacture according to their job cost sheets. undational 3-15 (Algo) What is the net operating income for the year? Answer is complete but not entirely correct. et operating income s 795,700

Principles of Cost Accounting
Principles of Cost Accounting
17th Edition
ISBN:9781305087408
Author:Edward J. Vanderbeck, Maria R. Mitchell
Publisher:Edward J. Vanderbeck, Maria R. Mitchell
Chapter4: Accounting For Factory Overhead
Section: Chapter Questions
Problem 15E: The books of Petry Products Co. revealed that the following general journal entry had been made at...
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I need the answer for question 15 please.

I just recieved an answer from bartleby but it is a wrong answer which 

is 2670000

 

Bunnell Corporation Is a manufacturer that uses Job-order costing. On January 1, the company's Inventory balances were as follows: $ 66,000 $ 33,600 $ 38,400 Raw materials Work in process Finished goods 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, $684,000. 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; Indırect labor, $150,000; selling and administrative salarles, $319,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $423,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, Insurance, and utilities), $390,000. 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 $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 $3,547,500. The Jobs cost $1,633,300 to manufacture according to their job cost sheets. Foundational 3-15 (Algo) 15. What Is the net operating Income for the year? Answer is complete but not entirely correct. Net operating income s 795,700 8
Transcribed Image Text:Bunnell Corporation Is a manufacturer that uses Job-order costing. On January 1, the company's Inventory balances were as follows: $ 66,000 $ 33,600 $ 38,400 Raw materials Work in process Finished goods 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, $684,000. 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; Indırect labor, $150,000; selling and administrative salarles, $319,000. d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goods warehousing), $423,000. e. Incurred various manufacturing overhead costs (e.g., depreciation, Insurance, and utilities), $390,000. 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 $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 $3,547,500. The Jobs cost $1,633,300 to manufacture according to their job cost sheets. Foundational 3-15 (Algo) 15. What Is the net operating Income for the year? Answer is complete but not entirely correct. Net operating income s 795,700 8
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