Conundrum, Inc. manufactures puzzles. Due to a fire in the administrative offices, the accounting records for September of the current year were partially destroyed. You have been able to piece together the following information from the ledger.

Upon examining various source documents and interviewing several employees, you were able to gather the following additional information.

a.	Collections of accounts receivable during September amounted to $205,000.
b.	Sales revenue in September was 120 percent of cost of goods sold. All sales are on account.
c.	Overhead is applied using an annual predetermined overhead rate using direct-labor hours (based on practical capacity).
d.	The budgeted overhead for the current year is $720,000.
e.	Budgeted direct-labor cost for the current year is $960,000. The direct-labor rate is $20 per hour.
f.	The accounts payable balance on September 30 was $1,000. Only purchases of raw material are credited to accounts payable. A payment of $81,000 was made on September 15.
g.	Septembers cost of goods sold amounted to $180,000.
h.	The September 30 balance in finished-goods inventory was $4,975.
i.	Payments of $79,500 were made to direct-labor employees during September. The August 31 balance in the Wages Payable account was $1,000.
j.	The actual manufacturing overhead for September was $60,000.
k.	An analysis of the puzzles still in process on September 30 revealed that so far these items have required 500 hours of direct labor and $20,700 of direct material.

Raw-Material Inventory Accounts Payable 40,000 12,100 Bal. 8/31 Bal. 9/30 45,000 Work-in-Process Inventory Finished-Goods Inventory Bal. 8/31 8,000 Bal. 8/31 35,000 Manufacturing Overhead Cost of Goods Sold 60,000 Wages Payable Sales Revenue 1,600 Bal 9/30 Accounts Receivable Bal. 8/31 8,000