The Work in Process Inventory account of Phelan Corporation increased $23,000 during November 2010. Costs incurred during

Question:

The Work in Process Inventory account of Phelan increased $23,000 during November 2010. Costs incurred during November included $24,000 for direct material, $126,000 for direct labor, and $42,000 for overhead. What was the cost of goods manufactured during November?

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...