Freeman Furnishings has summarized its data as shown: Depreciation of factory building $77,250 Factory real estate taxes $15,000 Factory utility expenses $85,000 Indirect materials $32,000 Indirect labor $25,000 Direct labor cost $86,000 Direct labor hours incurred 22,500 Estimated direct labor hours 23,000 Raw material purchased $330,000 Raw material, beginning inventory $40,000 Raw material, ending Inventory $30,000 Work in process, beginning inventory $51,000 Work in process, ending inventory $66,000 Estimated overhead $247,250 Compute the cost of goods manufactured, assuming that the overhead is allocated based on direct labor hours