The company applies overhead to jobs using a predetermined overhead rate based on machine-hours. at the beginning of the year, the company estimated that it would work 44,000 machine-hours and incur $176,000 in manufacturing overhead cost. the following transactions were recorded for the year:
- raw materials were purchased, $459,000.
- raw materials were requisitioned for use in production, $465,000 ($431,000 direct and $34,000 indirect).
- the following employee costs were incurred: direct labor, $296,000; indirect labor, $63,000; and administrative salaries, $157,000.
- selling costs, $134,000.
- factory utility costs, $14,000.
- depreciation for the year was $119,000 of which $114,000 is related to factory operations and $5,000 is related to selling and administrative activities.
- manufacturing overhead was applied to jobs. the actual level of activity for the year was 47,000 machine-hours.
- sales for the year totaled $1,287,000
prepare a schedule of cost of goods manufactured in good form.