Problem:
The following selected information was extracted from the 20x3 accounting records of Baker Products:
Raw Materials Used $284,000
Direct Labor 178,000
Indirect Labor 35,000
Selling & Admin. Salaries 330,000
Factory Depreciation 231,000
Selling & Admin Depreciation 99,000
Other Selling & Admin Expenses 80,000
Factory Maintenance and Taxes 620,000
The company's beginning and ending work-in-process inventories amounted to $306,000 and $245,000, respectively. The company's beginning and ending finished-goods inventories were $450,000 and $440,000, respectively. Calculate Midina's cost of goods manufactured.