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 cost of goods transferred to finished goods inventory for novmeber is:

if I could also get an explanation and formula as well I would greatly appreciate it.