Problem
Pentex, Inc. reported the following year-end information:
Beginning work in process inventory
|
$ 46,034
|
Beginning raw materials inventory
|
23,314
|
Ending work in process inventory
|
50,838
|
Ending raw materials inventory
|
20,101
|
Raw materials purchased
|
548,421
|
Direct labor
|
414,572
|
Manufacturing overhead
|
106,742
|
How much is Pentex's cost of goods manufactured for the year?