Almeda Products, Inc. uses a job-order costing system. The companys inventory balances on April 1, the start of its fiscal year, were as follows:

Raw materials	$	38,000
Work in process		20,300
Finished goods		48,300

During the year, the following transactions were completed:

1. Raw materials were purchased on account, $176,000.
2. Raw materials were issued from the storeroom for use in production, $192,000 (85% direct and 15% indirect).
3. Employee salaries and wages were accrued as follows: direct labour, $206,000; indirect labour, $82,600; selling and administrative salaries, $90,300.
4. Utility costs were incurred in the factory, $65,600.
5. Advertising costs were incurred, $100,600.
6. Prepaid insurance expired during the year, $20,600 (80% related to factory operations, and 20% related to selling and administrative activities).
7. Depreciation was recorded, $186,000 (80% related to factory assets, and 20% related to selling and administrative assets).
8. Manufacturing overhead was applied to jobs at the rate of 145% of direct labour cost.
9. Goods that cost $675,200 to manufacture according to their job cost sheets were transferred to the finished goods warehouse.
10. Sales for the year totalled $1,090,000 and were all on account. The total cost to manufacture these goods according to their job cost sheets was $692,000.