Conundrum Corporation manufactures furniture. Due to a fire in the administrative offices, the accounting records for November of the current year were partially destroyed. You have been able to piece together the following information from the ledger.

Raw-Material Inventory
			40,000
Bal. 11/30	45,000

Accounts Payable
		12,000	Bal. 10/31

Work-in-Process Inventory
Bal. 10/31	8,000

Finished-Goods Inventory
Bal. 10/31	35,000

Manufacturing Overhead
	60,000

Cost of Goods Sold

Wages Payable
		1,500	Bal 11/30

Sales Revenue

Accounts Receivable
Bal. 10/31	8,000

Upon examining various source documents and interviewing several employees, you were able to gather the following additional information.

a. Collections of accounts receivable during November amounted to $205,100.

b. Sales revenue in November was 120 percent of cost of goods sold. All sales are on account.

c. Overhead is applied using an annual predetermined overhead rate using direct-labor hours (based on practical capacity).

d. The budgeted overhead for the current year is $720,000.

e. Budgeted direct-labor cost for the current year is $960,000. The direct-labor rate is $20 per hour.

f. The accounts payable balance on November 30 was $1,000. Only purchases of raw material are credited to accounts payable. A payment of $81,000 was made on November 15.

g. Novembers cost of goods sold amounted to $180,000.

h. The November 30 balance in finished-goods inventory was $5,000.

i. Payments of $79,500 were made to direct-labor employees during November. The October 31 balance in the Wages Payable account was $1,000.

j. The actual manufacturing overhead for November was $60,000.

k. An analysis of the furniture still in process on November 30 revealed that so far these items have required 500 hours of direct labor and $20,500 of direct material.

Required:

a. Calculate the following missing amounts.

1.	Sales revenue for November.	$216,000selected answer correct
2.	November 30 balance in accounts receivable.	t
3.	Cost of raw material purchased during November.	$70,000selected answer correct
4.	November 30 balance in work-in-process inventory.
5.	Direct labor added to work in process during November.	$80,000selected answer correct
6.	Applied overhead for November.
7.	Cost of goods completed during November.	$150,000selected answer correct
8.	Raw material used during November.
9.	October 31 balance in raw-material inventory.	$15,000selected answer correct
10.	Overapplied or underapplied overhead for November.