Calculate the cost of goods manufactured using the following information:

Direct materials	$	299,000
Direct labor		132,500
Factory overhead costs		264,500
General and administrative expenses		86,000
Selling expenses		49,300
Work in Process inventory, January 1		119,000
Work in Process inventory, December 31		126,400
Finished goods inventory, January 1		232,600
Finished goods inventory, December 31		239,200

Multiple Choice

• $688,600.

• $703,400.

• $696,000.

• $774,600.

• $682,000.