Question - During the month of July, Reardon Company incurs $17,000 of direct labour and $8,500 of manufacturing overhead, and purchases $15,000 of raw materials. Between the beginning and end of the month, the raw materials inventory increases by $2,000, the finished goods inventory increased by $1,500, and the work-in- progress inventory decreases by $3,000. What is the cost of goods manufactured?
a) $38,500
b) $40,500
c) $41,500
d) $43,500