Koczela Incorporated has provided the following data for the month of May: Inventories: Beginning Ending Work in process $22,000 $17,000 Finished goods $51,000 $55,000 Additional information: Direct materials $62,000 Direct labor cost $92,000 Manufacturing overhead cost incurred $68,000 Manufacturing overhead cost applied to Work in Process $66,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for May is:

scenario: hawaii and south carolina are trading partners. hawaii has an absolute advantage in the production of both coffee and tea. the opportunity cost of producing 1 pound of tea in hawaii is 2 pounds of coffee, and the opportunity cost of producing 1 pound of tea in south carolina is 1/3 pound of coffee. which of the following statements is true? a. south carolina should specialize in the production of both tea and coffee. b. hawaii should specialize in the production of tea, whereas south carolina should specialize in the production of coffee. c. hawaii should specialize in the production of coffee, whereas south carolina should specialize in the production of tea. d. hawaii should specialize in the production of both tea and coffee.