Raw material Indirect material Office expenses Rent Net work in progress Indirect wages Factory assets at cost Prov. for dep'n on factory assets 510,000 200,000 40,000 80,000 (35,000) 150,000 850,000 115,000 The firm has indicated that the rent is owing by $20,000, and that the factory assets are to be depreciated by 10% on the reducing balance method. The rent is to be apportioned 60% to the factory. Determine the total of the factory overheads for the year. O a. $483,500 O b. $495,000 O c. $515,000 O d. $480,000