Question

Reith Inc. has provided the following data for the month of November. There were no beginning...

Reith Inc. has provided the following data for the month of November. There were no beginning inventories; consequently, the direct materials, direct labor, and manufacturing overhead applied listed below are all for the current month.

Work In Process Finished Goods Cost of Goods Sold Total
Direct materials $ 1,850 $ 10,440 $ 58,560 $ 70,850
Direct labor 3,510 22,620 126,880 153,010
Manufacturing overhead applied 1,560 7,800 42,640 52,000
Total $ 6,920 $ 40,860 $ 228,080 $ 275,860

Manufacturing overhead for the month was overapplied by $4,000.

The company allocates any underapplied or overapplied manufacturing overhead among work in process, finished goods, and cost of goods sold at the end of the month on the basis of the overhead applied during the month in those accounts.

The cost of goods sold for November after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

Multiple Choice

  • $224,800

  • $231,360

  • $224,080

  • $232,080

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