Crunchem Cereal Company incurred the following actual costs during 20x1. Direct material used Direct labor Manufacturing overhead $ 285,000 140,000 294,000 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 $ 32,000 39,000 45,000 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.