QUESTION 16 Ragtime Company had the following information for the year: Direct materials used $110,000 Direct labor incurred (5,000 hours) $150,000 Actual manufacturing overhead incurred $166,000 Ragtime Company used a predetermined overhead rate of $35 per direct labor hour for the year. Assume the only inventory balance is an ending Work in Process Inventory balance of $17,000. What was cost of goods manufactured? $260,000 $426,000 $435,000 $418,000