applies manufacturing overhead at $80\%$ of standard direct labor cost.

Required:

Compute the amount of Direct Materials Price Variance to be prorated to Finished Goods

Inventory at December $31.$

Compute the total amount of direct materials cost in the Finished Goods Inventory at

December $31,$ after all materials variances have been prorated.

Compute the total amount of direct labor cost in the Finished Goods Inventory at December

$31,$ after all variances have been prorated.

Compute the total Cost of Goods Sold $($COGS$)$ for the year ended December $31,$ after all

variances have been prorated.

$($For all requirements, round your final answers to the nearest whole dollar amount.$)$