Problem
Sawyer Company had the following information for the year:
Direct materials used $ 198,100
Direct labor incurred (7,200 hours) $ 250,000
Actual manufacturing overhead incurred $ 280,200
Sawyer Company used a predetermined overhead rate using estimated overhead of $348,300 and 8,100 estimated direct labor hours. Assume the only inventory balance is an ending Finished Goods Inventory balance of $9,100. What was cost of goods manufactured?