Maple Mount Fishery is a canning company in Astoria. The company uses a normal costing system in which factory overhead is applied on the basis of direct labor costs. Budgeted factory overhead for the year was $680,000, and management budgeted $344,000 of direct labor costs. During the year, the company incurred the following actual costs Direct materials used Direct labor Factory overhead $360,000 300,000 654,600 The January 1 balances of inventory accounts are shown below. Materials - all direct Work-in-process Finished goods $60,500 43,800 26,100 The December 31 balances of these inventory accounts were ten percent lower than the balances at the beginning of the year. The total manufacturing costs for the year are: (Round your "predetermined overhead rate" to 1 decimal place.) Multiple Choice $1,264,380 $1,260,000 $1,303,800 $1,321,590 $1,266,990