1. (TCO E) (CPA-03616) Madtack Company's beginning and ending inventories for the month of November Year 1 are: November 1 November 30 Direct materials $ 67,000 $ 62,000 Work-in-process 145,000 171,000 Finished goods 85,000 78,000 Production data for the month of November follows. Direct labor $ 200,000 Actual factory overhead 132,000 Direct materials purchased 163,000 Transportation in 4,000 Purchase returns and allowances 2,000 Madtack uses one factory overhead control account and charges factory overhead to production at 70 percent of direct labor cost. The company does not formally recognize over/underapplied overhead until year-end. Madtack Company's total manufacturing cost for November is: (Points : 10) $502,000 C $503,000 C $495,000 C $510,000 C