Denherder Inc. has provided the following data for the month of November. There

Question

Denherder 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 Material $ 2,150 $ 10,920 $ 48,240 $ 61,3110
Direct Labor 5,800 29,120 128,640 163,560
Manufacturing Overhead Applied 3,250 11,700 50,050 65,000
Total $ 11,200 $ 51,740 $ 226,930 $ 289,870

Manufacturing overhead for the month was underapplied by $5,000.
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 finished goods inventory at the end of November after allocation of any underapplied or overapplied manufacturing overhead for the month is closest to:

a. $50,840
b. $50,848
c. $52,632
d. $52,640

Explanation / Answer

d. $52,640

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