20. Dapper Corporation had only one job in process on May 1. Beginning Work Process for the job at May 1 was $17.240. The company assigns overhead cost jobs using the predetermined overhead rate of $23.00 per direct labor-hour During May, the following activity was recorded: Raw materials (all direct materials): Beginning balance $8,500 Purchased during the month $42,000 $48,500 Used in production Labor: Direct labor-hours worked during the month 2,200 Direct labor cost incurred $25,520 Actual manufacturing overhead costs incurred $52,800 Inventories: Raw materials, May 30 $32,190 Work in process, May 30 Raw materials consist solely of items that are classified as direct materials. The cost of goods manufactured for May was: a. $109,670 b. $124,620 c. $143,300 d. $126,820