$1$ point

Virtuoso Fabricators Inc. has provided the following data $($see the tables below$)$ concerning last month's manufacturing operations. Compute cost of goods manufactured $($COGM$)$ for the month.

$\backslash$table$[[$Direct materials used in production,$$50,000,],[$Direct labor,$$40,000,],[$Manufacturing overhead applied,$$60,000,],[$Underapplied overhead,$$2,000,],[$Inventories$,$Beginning,Ending$],[$Raw materials,$$12,000,$$$18,000$