Far Out Ceramics makes custom macaroni tile

6. Question : (TCO 2) Far Out Ceramics makes custom macaroni tile and applies job-order costing. The following information relates to the fiscal year ending December 31, 20XX.Beginning balance in Raw Materials Inventory $ 12,500Purchases of raw material 189,000Ending balance in Raw Materials Inventory 14,300Beginning balance in Work in Process 24,500Ending balance in Work in Process 23,100Direct labor cost 89,700Manufacturing overhead applied 66,200Actual manufacturing overhead 66,200Beginning balance in Finished Goods 1,000Ending balance in Finished Goods 24,300Sales 432,000Selling expenses 120,000General and administrative expenses 86,000How much is cost of goods sold? Student Answer: $320,200 $348,200 $343,600 $321,200