V (15 points)

The balances in White Company's Work in Process inventory account were $15,000 on August 1 and $18,000 on August 31. The company incurred $30,000 in direct labour cost during August and requisitioned $25,000 in raw materials (all direct material). The sum of the debits to the Manufacturing Overhead account totaled $28,000 for the month while the sum of the credits applied overhead totaled $30,000. Which of the following statements about finished goods inventory and manufacturing overhead is correct?