Shareholders' equity:

a. is equal to total assets plus total liabilities.
b. decreases whenever new shares of stock are issued.
c. represents the residual value of a firm.
d. includes long-term debt, preferred stock, and common stock.
e. increases in value anytime total assets increases.

Rediger inc., a manufacturing corporation, has provided the following data for the month of june. the balance in the work in process inventory account was $28,000 at the beginning of the month and $20,000 at the end of the month. during the month, the corporation incurred direct materials cost of $56,200 and direct labor cost of $29,800. the actual manufacturing overhead cost incurred was $53,600. the manufacturing overhead cost applied to work in process was $52,200. the cost of goods manufactured for june was: