The company provided the following data for the end of the year (all raw materials are used in production as direct materials):

Selling expenses	$	212,000
Purchases of raw materials	$	259,000
Direct labor	$	20,000
Administrative expenses	$	154,000
Manufacturing overhead applied to work in process	$	366,000
Actual manufacturing overhead cost	$	344,000

Inventory balances at the beginning and end of the year were as follows:

	Beginning of Year			End of Year
Raw materials	$	60,000		$	38,000
Work in process	$	25,000		$	33,000
Finished goods	$	?		$	44,000

For the year, the cost of goods available for sale was $720,000 and the net operating income as reported in its income statement income was $43,000. The companys underapplied or overapplied overhead was closed to Cost of Goods Sold.

How much was the company's sales revenue for the year?

Multiple Choice

• $1,063,000

• $1,051,000

• $1,059,000

• $1,055,000