The Accounting Records for Poole Manufacturing Company Included the Following

Multiple Choice

The accounting records for Poole Manufacturing Company included the following cost information relating to its first year of operations: $\begin{array}{lrr} \text { Direct materials} &\$60,000\\ \text { Direct labor } &\$80,000\\ \text { Fixed manufacturing overhead} &\$100,000\\ \text {Variable manufacturing overhead } &\$20,000\\\end{array}$

Assume the company produced 10,000 units of inventory and sold 6,000 of these units for $192,000.What amount of finished goods will be reported on the balance sheet at the end of the year under absorption costing?

A) $104,000
B) $260,000
C) $96,000
D) $64,000