X Company used a 150% predetermined overhead rate based on direct labour cost. The rate was based on annual estimated overhead cost and direct labour cost of $252,000 and $168,000, respectively.

Required:

A) Calculate the cost of goods manufactured.

B) What was the cost of goods sold before adjusting for any under or overapplied overhead?

Purchase of raw materials (all direct) $266,000 Direct labour cost 160,000 Manufacturing overhead costs 246,000 Change in inventories: Decrease in raw materials $10,000 Decrease in work in process 8,000 Decrease in finished goods 16,000