During 2010, Tanner Manufacturing expected Job No. 26 to cost $300,000 of overhead, $500,000 of materials, and $200,000 in labor. Tanner applied overhead based on direct labor cost. Actual production required an overhead cost of $560,000, $550,000 in materials used, and $220,000 in labor. All of the goods were completed. What amount was transferred to Finished Goods?
A) $1,000,000
B) $1,050,000
C) $1,070,000
D) $1,100,000
Correct Answer:
Verified
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