The following information is available for O’Neal Manufacturing Company for the month ending January 31, 2010:
Cost of direct materials used in production ....... $132,000
Direct labor ..................... 158,000
Work in process inventory, January 1 .......... 60,000
Work in process inventory, January 31 ......... 80,000
Total factory overhead ............... 72,000
Determine O’Neal’s cost of goods manufactured for the month ended January 31, 2010.