Reference no: EM13750311
Below is the activity in Salem Inc's Work In Process and Finished Goods accounts (could be incomplete) for the month of January:
Work In Process;
Beg Balance: 1,000
Direct Materials Used: 14,000
Direct Labor Incurred: 7,000
Applied Manufacturing Overhead: 3,500
Transfer to Finished Goods: ??
Ending Balance (debit): 7,800
Finished Goods:
Beginning Balance: 250
Ending Balance (debit): 400
Question: What is the cost of goods sold for Salem for January?
A) 17,700 B) 7,800 C) 17,550 D) 24,500 E) None
Please show detailed help with answer and steps.
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