Question - The following data are for Hane Company:
work-in-process inventory, beginning balance: $115,000
interest expense: 17,000
direct material inventory, ending balance: 65,000
corporate headquarters administrative expenses: 57,000
actual manufacturing overhead costs: 209,000
work-in-process inventory, ending balance: 107,000
direct materials inventory, beginning balance: 50,000
finished goods inventory, beginning balance: 120,000
accounts receivable, beginning balance: 12,000
accounts receivable, ending balance: 14,500
direct labor costs: 370,000
direct materials purchased: 150,000
finished goods inventory, ending balance: 100,000
The predetermined overhead rate is $2.50 per direct labor hour. The actual number of direct labor hours worked during the period was 100,000. Using these data, compute the cost of goods manufactured for the period.