The following additional information describes the company's production activities for May.

Raw materials purchases (on credit)	$	470,000
Factory wages cost (paid in cash)		1,714,000
Other overhead cost (Other Accounts credited)		362,000
Materials used
Direct	$	390,000
Indirect		72,000
Labor used
Direct	$	895,000
Indirect		819,000
Overhead rate as a percent of direct labor		140	%
Sales (on credit)	$	3,190,000

Stam Company manufactures woven blankets and accounts for product costs using process costing. The company uses a single processing department. The following information is available regarding its May inventories.

	Beginning Inventory			Ending Inventory
Raw materials inventory	$	175,000		$	183,000
Work in process inventory		665,000			630,000
Finished goods inventory		863,000			777,000

The following additional information describes the company's production activities for May.

Raw materials purchases (on credit)	$	470,000
Factory wages cost (paid in cash)		1,714,000
Other overhead cost (Other Accounts credited)		362,000
Materials used
Direct	$	390,000
Indirect		72,000
Labor used
Direct	$	895,000
Indirect		819,000
Overhead rate as a percent of direct labor		140	%
Sales (on credit)	$	3,190,000