The following costs are attributed to the Quilt Company: Purchase of raw materials all direct) $291,100 Direct labour cost $141,800 $198,100 Manufacturing overhead costs Inventories Beginning raw materials $10,000 Ending raw materials $900 Beginning work in process $20,000 Ending work in process $15,900 $20,000 Beginning finished goods Ending finished goods $6,800 Quilt Company used a 120% predetermined overhead rate based on direct labour cost (budgeted overhead cost). 6. Calculate the cost of goods sold based on the budgeted overhead cost