Smith Manufacturing found the following information in its accounting records: $524,000 of direct materials used, $223,000 of

Question:

Smith Manufacturing found the following information in its accounting records: $524,000 of direct materials used, $223,000 of direct labour, and $742,000 of manufacturing overhead. The work in process inventory account had a beginning balance of $76,000 and an ending balance of $85,000. Compute the company’s Cost of goods manufactured.