Prepare a cost of goods sold budget for Kenwood Manufacturing Inc. for the year ended December 31, 2013, from the following estimates. Inventories of production units:

Direct materials purchased during the year, $854,000; beginning inventory of direct materials, $31,000; and ending inventory of direct materials, $26,000. Totals from other budgets included:
Direct labor cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $539,500
Total factory overhead costs . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .818,000

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Work-in- Finished Process Goods $28,500 9.300 22,400 January 1, 2013 23700 22 400