Baab Corporation is a manufacturing firm that uses job-order costing. The company's inventory balances were as follows at the beginning and end of the year: Beginning Endin Balance Balance Raw materials 5 14,550 $ 22,550 Work in process 5 27,550 $ 9550 Finished Goods 5 62,550 $ 77.550 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 33,550 machine-hours and incur $271,755 in manufacturing overhead cost. The following transactions were recorded for the y ear Raw materials were purchased, $315,550. Raw materials were requisitioned for use in production, 5307,550 (5280,450 direct and $27,100 indirect). The following employee costs were incurred: direct labor, 5377,550; indirect labor, 596,550; and administrative salaries, 5172,550 Selling costs, 5147,550 Factory utility costs, $10.550. Depreciation for the year was 5180,000 of which $144,000 is related to factory operations and S16,000 is related to selling, general, and administrative activities. Manufacturing overhead was applied to jobs. The actual level of activity for the year was 34,110 machine-hours. Sales for the year totaled $1,285,000 Required do not enter any commas and round to the nearest dollar Compute Cost of Goods Manufactured Compute Operating Income