Crunchem Cereal Company Incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $270,000 130,000 273,000 The firm's predetermined overhead rate is 210 percent of direct-labor cost. The January 1 Inventory balances were as follows: Raw material Work in process Finished goods $31,000 40,000 43,000 Each of these Inventory balances was 10 percent higher at the end of the year