During the year, a large quantity of furniture on the market caused Luzadis to cut production and build inventories. The company provided the following data for the year:

Machine$-$hours $55,000$

Manufacturing overhead cost $ $1,102,000$

Inventories at year$-$end:

Raw materials $ $18,000$

Work in process $($includes overhead applied of $$52,800)$ $ $114,600$

Finished goods $($includes overhead applied of $$167,200)$ $ $362,900$

Cost of goods sold $($includes overhead applied of $$660,000)$ $ $1,432,500$