Flexsteel Industries manufactures furniture for the retail, contract, and recreational vehicle furniture markets. Flexsteel had the following information for the year Direct materials used $190,000 Direct labor incurred (7,000 hours) $245,000 Actual manufacturing overhead incurred $273,000 Flexsteel used a predetermined overhead rate using estimated overhead of $320,000 and 8,000 estimated direct fubor hours, Assume the only inventory balance is an ending Finished Goods Inventory balance of $9,000. What was cost of goods manufactured? Multiple Choice $715,000 $708,000 $706,000