Meyer, Inc makes one product and has provided the following information about its finished goods:

• Each unit requires 1.5 pounds of raw materials which cost $5.00 per pound.
• Each unit requires 2 direct labor hours at a rate of $12.00 per hour.
• Manufacturing overhead is $11.00 per direct labor-hour.

If Meyer has 20,000 units in its ending finished goods inventory, the amount Meyer will report in its budgeted balance sheet for finished goods is:

	a.	$ 560,000
	b.	$ 870,000
	c.	$1,070,000
	d.	$ 406,600