Answer:
$116,387
Explanation:
Opening work in process = Direct materials + Direct Labor + Overheads
= $2,400 + $6,966 + $10,104
= $19,470
Adding up all the cost for the period, we'll have;
Raw materials = $39,900 used in production
Direct labor cost = $25,110
Overheads to be applied on predetermined rate = 2,500 × $19.6
= $49,000
Total cost incurred including beginning work in process = $133,480
Less: Closing work in process $17,093
Total cost of goods manufactured = $116,387
