1.During its first month of operations, a manufacturer incurs the following costs (in dollars) related to activities within its factory:

Direct materials$15,000

Direct labor$30,000

Manufacturing overhead $40,000

What amount should be reported as cost of goods sold on the income statement if 5,000 units are produced and 4,000 are sold?

a.$56,000

b.$68,000

c.$70,000

d.$85,000