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Vermont State, Inc. used $153,000 of direct materials and incurred $63,000 of direct labor costs during the year. Indirect labor amounted to $272,000, while indire
Vermont State, Inc. used $153,000 of direct materials and incurred $63,000 of direct labor costs during the year. Indirect labor amounted to $272,000, while indire materials used totaled $53,300. Other operating costs pertaining to the factory included utilities of $134,500; maintenance of $71,420; repairs of $53,550; depreciation of $130,000; and property taxes of $72,020. There was no beginning or ending finished goods inventory, but Work-in-Process inventory began the year with a $5,300 balance and ended the year with a $7,500 balance. How much is the cost of goods manufactured? OA. $1,002,790 OB. $1,000,590 C. $12,800 OD. $1,008,090
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