Question - Henning Inc. uses a job-order costing system in which any underapplied or overapplied overhead is closed out to cost of goods sold at the end of the month. The company has provided the following data for June:

Direct Materials- 20,000

Direct Labor Costs- 48,000

Manufacturing Overhead Cost Incurred- 63,000

Manufacturing Overhead Cost Applied- 66,000

Inventories

Work In Process Beginning- 11,000

Work In Process Ending- 22,000

Finished Goods Beginning- 53,000

Finished Goods Ending- 51,000

The cost of goods manufactured for June is closest to:

a. 131,000

b. 120,000

c. 134,000

d. 123,000