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Given the following information, determine the cost of goods manufactured Direct Labor Incurred $61,000 Manufacturing Overhead Incurred 177,500 Direct Materials Used 155,000 Finished Goods Inventory,

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Given the following information, determine the cost of goods manufactured Direct Labor Incurred $61,000 Manufacturing Overhead Incurred 177,500 Direct Materials Used 155,000 Finished Goods Inventory, Jan. 1 Finished Goods Inventory, Dec. 31 Work-in-Process Inventory, Jan. 1 Work-in-Process Inventory, Dec. 31 198,000 98,500 221,500 110,000 A. $393,500 B. $505,000 C. $186,500 O D. $283,500

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