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Business, 12.02.2020 18:37 kimlyn58p0wyn0

Tondre Inc. has provided the following data for the month of July: Direct materials $34,000 Direct labor cost $52,000 Manufacturing overhead cost incurred $72,000 Manufacturing overhead cost applied to Work in Process $74,000 In addition, the beginning balance of work in process inventory (WIP) is $30,000 and the ending balance of WIP is $20,000. The beginning balance of Finished goods is $46,000 and the ending balance of finished goods is $33,000. The cost of goods sold that appears on the income statement for July and that has been adjusted for any underapplied or overapplied overhead is closest to:

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