Prepare a cost of goods sold budget for the Highlands Manufacturing Co. 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 s28,500 23,700 22400 $19,300