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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-process145,000 171,000 Finished goods85,000
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-process145,000 171,000 Finished goods85,000 78,000Production data for the month of November follows.
Direct labor$200,000Actual factory overhead132,000Direct materials purchased163,000Transportation in4,000Purchase returns and allowances2,000Madtack 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 total manufacturing cost for November is:
Group of answer choices
$502,000
$503,000
$495,000
$510,000
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