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Benny Industries allocates manufacturing overhead at a predetermined rate of 160% of direct labor cost....

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Accounting

Benny Industries allocates manufacturing overhead at a predetermined rate of 160% of direct labor cost. Any overallocated or underallocated overhead is closed to the cost of goods sold at the end of the month. Below is information on job 205 that was in process at the end of the month of October: Direct materials $4,000 Direct labor $3,000 Jobs 206, 207, and 208 were started in November. Direct materials that were used in November were $26,000 and direct labor costs were $21,000. For the month of November, actual manufacturing overhead was $32,000. The only job still in process on the last day of November was job 207 with the following costs: $3,000 for direct materials and $1,500 for direct labor. What is the cost of goods manufactured for November? A. $85,500 B. $49,500 C. $83,900 D. $99,300

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