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Question - Consider the following information: in 2020, raw materials used totaled $64,750; direct labor amounted to $198,400; manufacturing overhead was computed to be $394,800; Work-in-Process Inventory on January 1, 2020 was $189,100; and Work-in-Process Inventory on December 31, 2020 was $197,600. What was cost of goods manufactured in 2020?
a) $847,050
b) $649,450
c) $855,550
d) $666,450
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