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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 $631,800, and management budgeted $318,200 of direct labor costs. During the year, the company incurred the following actual costs.
	Direct materials used			$372,400
	Direct labor			$299,800
	Factory overhead			$646,800
The January 1 balances of inventory accounts are shown below.
	Materials - all direct			$66,400
	Work in process			$38,100
	Finished goods			$24,800
The December 31 balances of these inventory accounts were nine percent lower.
The total manufacturing costs for the year are:
$1,295,695
$1,270,895
$1,267,466
$1,305,566
$1,273,127
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 $631,800, and management budgeted $318,200 of direct labor costs. During the year, the company incurred the following actual costs.
	Direct materials used			$372,400
	Direct labor			$299,800
	Factory overhead			$646,800
The January 1 balances of inventory accounts are shown below.
	Materials - all direct			$66,400
	Work in process			$38,100
	Finished goods			$24,800
The December 31 balances of these inventory accounts were nine percent lower.
The normal cost of goods sold, before under or overapplied overhead is:
$1,270,895
$1,267,466
$1,305,566
$1,295,695
$1,273,127

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