River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct materials purchased on account $145,000 Direct materials used 82,000 Direct labor cost...

Extracted text: River Falls Manufacturing uses a normal cost system and had the following data available for 2018: Direct materials purchased on account $145,000 Direct materials used 82,000 Direct labor cost incurred 127,000 140,000 Factory overhead incurred Cost of goods completed 288,000 248,000 Cost of goods sold Beginning direct materials inventory Beginning WIP inventory Beginning finished goods inventory Overhead application rate, as a percent of 25,000 63,000 53,000 125 % direct-labor costs The ending balance of finished goods inventory is