Wealth Company has the following transactions for the month of November:

Purchased materials on account for $300,000

Materials requisitioned for $75,000

Direct labor for the month was incurred (but not yet paid) of $50,000.

Actual overhead for the month was $30,000. It has not been paid yet. (Charge to various payables.)

Overhead is applied to production at the rate of 50% of direct labor.

Jobs totaling $50,000 were transferred from Work-in-Process to Finished Goods.

Jobs costing $34,000 were sold.

Balances at the beginning of the month were:

Materials 34,240

Work-in-Process 0

Finished Goods 12,000

What is the ending balance of Finished Goods?

a. $23,321

b. $64,321

c. $0

d. $28,000

e. $10,040