WAXS-D,merchandisers of musical instruments,has provided the following details: 
Credit terms are: 3/20,n/45,FOB shipping.Calculate the net cost of inventory purchased assuming that there are no other inventory related transactions during the month.
Definitions:
Overhead Applied
The amount of overhead costs allocated to products or services based on a predetermined overhead rate.
Direct Labor-Hours
The total hours of labor directly involved in the production of goods, a key factor in calculating labor costs.
Estimated Total Overhead
The projected total of all indirect production costs, including but not limited to utilities, rent, and administrative expenses.
Assembly Department
A section within a manufacturing facility where components are assembled into final products or where significant assembly work is performed.
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