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Maple Mount Fishery is a canning company in Astoria. The company...

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Accounting

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Maple Mount Fishery is a canning company in Astoria. The company uses a normal costing system in which factory overhead is applied on the basis of direct labor costs. Budgeted factory overhead for the year was $680,000, and management budgeted $343,000 of direct labor costs. During the year, the company incurred the following actual costs. Direct materials used Direct labor Factory overhead $385,000 386,000 653,500 The January 1 balances of inventory accounts are shown below Materials - all direct Work-in-process Finished goods $61,900 10,500 26,800 The December 31 balances of these inventory accounts were ten percent lower than the balances at the beginning of me yeat. The adjusted cost of goods sold, after under or overapplied overhead, is (Round your predetermined overheed rate to decimal place)

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