Homework Answers
Determination of Cost of goods Sold:-
Direct Material Used = 119300
Direct Labour Incurred = 159700
Manufacturing Overhead = 235750 (5750 hours @ 41)
Total cost of Production = 514750
Less:- Closing Inventory = (17500)
Cost Of Goods Sold = 497250
Therefore, Correct answer is Option "C" i.e. 497250
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