Gitano Products operates a job$-$order costing system and applles overhead cost to jobs on the basis of direct materials used in production $($not on the basis of raw materials purchased$).$ In computing a predetermined overhead rate at the beginning of the yeat, the company's estimates were as follows: manufacturing overhead cost, $$1,054,000$; direct materials to be used in production, $$620,000.$ The company's inventory accounts at the beginning and end of the year were as follows

$02$:$12$:$29$

Raw Materials

Beginning Ending

$76,000,162,000$

Finished Goods $412,000,272,800$

The following actual costs were incurred during the wear:

$\backslash$table$[[$Purchase of raw materials $($all direct$),$$$498,000$