Ciresi Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. The company has provided the following information:

Actual sales		19,900	units
Standard cost	$	36.70	per unit

The company does not have any variable manufacturing overhead costs and it recorded the following variances during the year:

Materials price variance	$	32,820	F
Materials quantity variance	$	500	F
Labor rate variance	$	25,872	F
Labor efficiency variance	$	33,000	F
Fixed manufacturing overhead budget variance	$	16,500	F
Fixed manufacturing overhead volume variance	$	38,880	F

The adjusted Cost of Goods Sold after closing all of the variances to Cost of Goods Sold will be closest to:

Multiple Choice

• $877,902

• $1,066,952

• $730,330

• $582,758