[Ine following information applies to the questions displayed below.jBunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances wereas follows:Raw materialsWork in processFinished goodsThe company applies overhead cost to jobs using direct labor-hours. For this year, the company's predeterminedoverhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of totalmanufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions wererecorded this year:$ 84,500$ 35,000$ 44,100a. Raw materials were purchased on account, $614,000.b. Raw materials used in production, $567,600. All of of the raw materials were used as direct materials.c. The following costs were accrued for employee services: direct labor, $450,000; indirect labor, $150,000; selling andadministrative salaries, $290,000.d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goodswarehousing), $375,000.e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $350,000.f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on alljobs during the year.g. Jobs costing $1,461,900 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 $3,172,500. The jobs cost $1,471,900 tomanufacture according to their job cost sheets.Foundational 3-14 (Algo)14. What is the gross margin for this year?Gross margin [The following information applies to the questions displayed below.]Bunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances wereas follows:Raw materials.Work in processFinished goods$ 84,500$ 35,000$ 44,100The company applies overhead cost to jobs using direct labor-hours. For this year, the company's predeterminedoverhead rate of $12.50 per direct labor-hour was based on a cost formula that estimated $500,000 of totalmanufacturing overhead for an estimated activity level of 40,000 direct labor-hours. The following transactions wererecorded this year:a. Raw materials were purchased on account, $614,000.b. Raw materials used in production, $567,600. All of of the raw materials were used as direct materials.c. The following costs were accrued for employee services: direct labor, $450,000; indirect labor, $150,000; selling andadministrative salaries, $290,000.d. Incurred various selling and administrative expenses (e.g., advertising, sales travel costs, and finished goodswarehousing), $375,000.e. Incurred various manufacturing overhead costs (e.g., depreciation, insurance, and utilities), $350,000.f. Manufacturing overhead cost was applied to production. The company actually worked 41,000 direct labor-hours on alljobs during the year.g. Jobs costing $1,461,900 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 $3,172,500. The jobs cost $1,471,900 tomanufacture according to their job cost sheets.Foundational 3-13 (Algo)13. Assuming the company closes its underapplied or overapplied overhead to Cost of Goods Sold, what is the adjusted cost of goodssold for this year?Adjusted cost of goods sold

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Description: [Ine following information applies to the questions displayed below.jBunnell Corporation is a manufacturer that uses job-order costing. On January 1, the company's inventory balances wereas follows:Raw materialsWork in processFinished goodsThe compa