During the current year, Aberdeen Company incurred the following product costs: DirThe following information has been taken from the perpetual inventory system of Elite Manufacturing Company for the month ended August 31: Purchases of direct materials $ 68,000 Direct materials used $ 50,500 Direct labor costs assigned to production $ 24,000 Manufacturing overhead costs incurred (and applied) $ 35,000 Balances: August 31 August 1 Materials Inventory $ ? $ 34,000 Work in Process Inventory $ 52,000 $ 51,000 Finished Goods Inventory $ 57,000 $ 45,400 The cost of finished goods manufactured in August is:ect materials used in production $274,000 Direct labor $127,500 Manufacturing overhead $190,000 The company's beginning Work in Process Inventory was $20,000 and its ending Work in Process Inventory amounted to $30,000. What is the company's cost of finished goods manufactured for the year