Reith Incorporated 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. Direct materials Direct labor Manufacturing overhead applied Total Cost of Work In Finished Goods Process Goods Sold Total $1,850 $10,440 $ 58,560 $ 70,850 3,510 22,620 126,880 153,010 1,560 7,800 42,640 52,000 $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:

Reith Incorporated 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. Direct materials Direct labor Manufacturing overhead applied Total Cost of Work In Finished Goods Process Goods Sold Total $1,850 $10,440 $ 58,560 $ 70,850 3,510 22,620 126,880 153,010 1,560 7,800 42,640 52,000 $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:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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Question

Reith Incorporated 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.
Direct materials
Direct labor
Manufacturing overhead applied
Total
Cost of
Work In Finished
Goods
Sold
Total
Process Goods
$1,850 $10,440 $ 58,560 $ 70,850
3,510
153,010
22,620 126,880
7,800 42,640
1,560
52,000
$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:

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