Question

Tevebaugh Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year. Beginning inventories: Finished goods $ 30,000 Estimated total manufacturing overhead at the beginning of the year $ 568,000 Estimated direct labor-hours at the beginning of the year 32,000 direct labor-hours Results of operations: $ 501,000 $ 683,000 33,000 direct labor-hours $ 176,000 $ 420,000 Raw materials (all direct) requisitioned for use in production Direct labor cost Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred Selling and administrative: Selling and administrative salaries Other selling and administrative expenses Cost of goods manufactured Sales revenue Cost of goods sold (unadjusted) $ 219,000 $ 346,000 $ 1,567,000 $ 2,498,000 $ 1,376,000 The cost of coods available for sale is:

Answer 1

Cost of goods manufactured	1567000
Add: Finished goods beginning inventory	30000
Cost of goods available for sale	1597000
Option D $1,597,000 is correct