Below is the activity in Salem Inc's Work In Process and Finished Goods accounts (could be incomplete) for the month of January:
Work In Process;
Beg Balance : 1,000
Direct Materials Used : 15,000
Direct Labor Incurred : 7,000
Applied Manufacturing Overhead : 3,500
Transfer to Finished Goods : ??
Finished Goods:
Beginning Balance : 250
Ending Balance : 400
Question : What is the cost of goods sold for Salem for January ?
A) 17,700 B) 7,800 C) 17,550 D) 24,500 E) None