16) Minstrel Manufacturing uses a job order costing system. During one month Minstrel purchased S198,000 of raw materials on credit; issued materials to production of $195,000 of which $30,000 were indirect. Minstrel incurred a factory payroll of $150,000, paid in cash, of which $40,000 was indirect labor. Minstrel uses a predetermined overhead application rate of 150% ofdirect labor cost. Minstrel's beginning and ending Work in Process Inventory are S15,500 and S27,000 respectively. Compute the cost of product transferred to Finished Goods Inventory: A) S558,500. B) S498,500. C) S510,000. D) $428,500. ENOTA