K Inc. has provided the following data for the month of May:

Inventories:

	Beginning		Ending
Work in process	$	28,000	$	23,000
Finished goods	$	57,000	$	61,000

Additional information:

Direct materials	$	68,000
Direct labor cost	$	98,000
Manufacturing overhead cost incurred	$	74,000
Manufacturing overhead cost applied to Work in Process	$	72,000

Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.

The cost of goods manufactured for May is:

Multiple Choice

• $243,000

• $245,000

• $240,000

• $238,000