Overhead is applied to jobs at the rate of $25 per machine hour. By February 28, Job 178 is the only one unfinished. The balance of Finished Goods on February 1 is $94,000 (consisting of Job 177). Jobs 177 and 179 are sold during February. Stutz sells its product at cost plus 40%.
Calculate the balance of Finished Goods at February 28.
a.$53,290
b.$63,290
c.$63,690
d.$0
e.$39,500
