Kellems Corporation Manufactures One Product

Multiple Choice

Kellems Corporation manufactures one product.It does not maintain any beginning or ending Work in Process inventories.The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold.The company has provided the following information:
The company does not have any variable manufacturing overhead costs and it recorded the following variances during the year:
The adjusted Cost of Goods Sold after closing all of the variances to Cost of Goods Sold will be closest to:

A) $380,222
B) $344,818
C) $362,520
D) $472,562