Question: Consider the following data: Inventories Beginning Ending Work in Process $500,000 $420,000 Finished Goods $824,000 $745,000 Additional Information: Direct Materials $351,000 Direct Labor $513,000 Labor
Consider the following data:
| Inventories | Beginning | Ending |
| Work in Process | $500,000 | $420,000 |
| Finished Goods | $824,000 | $745,000 |
| Additional Information: | |
| Direct Materials | $351,000 |
| Direct Labor | $513,000 |
| Labor Hours Worked | 10,000 DLH |
| Manufacturing Overhead Incurred | $243,000 |
| POHR | $22 per DLH |
What is the value of the adjusted Cost of Goods Sold that should be included on the Income Statement?
| $1,266,000 |
| $1,220,000 |
| $1,186,000 |
| $1,243,000 |
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