Cienfuegos Corporation has provided the following data concerning last month's operations. Purchases of raw materials$36,000Indirect materials included in manufacturing overhead$4,000Direct labor cost$58,000Manufacturing overhead applied to Work in Process$90,000Overapplied overhead$3,000 BeginningEndingRaw materials inventory$10,000 $21,000 Work in process inventory$62,000 $70,000 Finished goods inventory$36,000 $40,000 The company closes out any underapplied or overapplied manufacturing overhead to cost of goods sold. How much is the adjusted cost of goods sold on the Schedule of Cost of Goods Sold?
A. $161,000
B. $157,000
C. $154,000
D. $197,000
Answer: C
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