Florentine Inc, has provided the following data for its first month in business: Work in Process Finished Goods Cost of Goods Sold Direct Material $2,380 $16,790 $43,930 Direct Labor $1,710 $16,060 $42,020 Overhead Applied $1,520 $9,880 $26,600 Actual manufacturing overhead was $31,000. The Cost of Goods Sold balance at the end of the month after allocation of any underapplied or overapplied manufacturing overhead for the month, using proration based on manufacturing overhead applied in ending balances, is closest to:

the correct answer is economics is a game without winners or losers.

unlike sports or games economic is a game without losers or winner rather it is a game where everyone wins. parties of business doing businesses exchange money with each other and hence exchange is done on the basis of goods. one party takes the goods and other sales it so there is winner on both sides. each party values more highly the good it gets than the good it gives up. both sides exchange only because both intend to increase their value. so there is no concept of lose or win.