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Compute the Cost of Goods Sold for 2016 using the following information:
Direct Materials, Jan. 1, 2016
$40,000
Work-in-Process, Dec. 31, 2016
69,000
Direct Labor
48,500
Finished Goods, Dec. 31, 2016
105,000
Finished Goods, Jan. 1, 2016
128,000
Manufacturing Overhead
72,500
Direct Materials, Dec. 31, 2016
43,000
Work-in Process, Jan. 1, 2016
87,000
Purchases of Direct Material
75,000
A) $211,000
B) $234,000
C) $198,000
D) $244,000
Answer & Explanation
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