Reference:
Geneva Steel Corporation Produces Large Sheets of Heavy Gauge

Reference:
Geneva Steel Corporation produces large sheets of heavy gauge steel. The company showed the following amounts relating to its production for the year just completed: $$\begin{array} { | l | r | } \hline \text { Direct materials used in production } & \$ 110,000 \\\hline \text { Direct labour costs for the year } & 55,000 \\\hline \text { Work in process, beginning } & 22,000 \\\hline \text { Finished goods, beginning } & 45,000 \\\hline \text { Cost of goods available for sale } & 288,000 \\\hline \text { Cost of goods sold } & 238,000 \\\hline \text { Work in process, ending } & 16,000 \\\hline\end{array}$$
-Manufacturing overhead cost for the year was?

A) $84,000.
B) $78,000.
C) $72,000.
D) $56,000.

Correct Answer:

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