Chavez Corporation reported the following data for the month of July:Inventories: BeginningEndingRaw materials$37,000?$35,000?Work in process$21,000?$27,000?Finished goods$37,000?$52,000?Additional information: Raw materials purchases$71,000?Direct labor cost$96,000?Manufacturing overhead cost incurred$64,000?Indirect materials included in manufacturingoverhead cost incurred$10,000?Manufacturing overhead cost applied to Work in Process$63,000?Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold.The direct materials cost for July is:
A. $63,000
B. $71,000
C. $69,000
D. $73,000
Answer: A
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