Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $ 290,000 130,000 273,000 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 $ 33,00 39,000 41,000 Each of these inventory balances was 10 percent higher at the end of the year. Required: 1. Prepare a schedule of cost of goods manufactured for 20x1. CRUNCHEM CEREAL COMPANY Schedule of Cost of Goods Manufactured For the Year Ended December 31, 20x1 Direct material: S 0 Raw material used S 0 Total manufacturing costs S 0 Subtotal S 0 Cost of goods manufactured S 0 2. What was the cost of goods sold for the year? Cost of goods sold