Teak Outdoor Furniture manufactures wood patio furniture. The company reports the following costs for June 2012:
Wood . . . . . . . . . . . . . . . . . . . . . . . . $ 250,000
Nails, glue, and stain . . . . . . . . . . . . . . 26,000
Depreciation on saws . . . . . . . . . . . . . . . 5,500
Indirect manufacturing labor . . . . . . . . 38,000
Depreciation on delivery truck . . . . . . . . 2,300
Assembly-line workers’ wages . . . . . . . 57,000
Requirement
1. What is the balance in the Manufacturing overhead account before overhead is applied to jobs?