Wallis Company manufactures only one product and uses a standard cost system. The company uses a predetermined plantwide overhead rate that relles on direct labor$-$hours as the allocation base. All of the company's manufacturing overhead costs are fixed$-$it does not incur any variable manufacturing overhead costs. The predetermined overhead rate is based on a cost formula that estimated $$2\mathrm{.}882,000$ of fixed manufacturing overhead for an estimated allocation base of $288,200$ direct labor$-$hours. Wallis does not maintain any beginning or ending work in process inventory.