On November 30, Crane's Direct Materials Inventory account totaled $668,000, and its Finished Goods Inventory totaled $3,456,400. Crane applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $4,500,000, and the company planned to use 900,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 830,000 machine hours, total manufacturing overhead amounted to $4,274,500, and Cost of Goods Sold was $8,750,250. For the purposes of this problem, ignore year-end disposition of over / under applied
