45. Last month, Company J placed P60,000 of materials into production. The Printing Department used 8,000 labor hours at P5.60 per hour and the Binding Department used 4,600 hours at P6.00 per hour. Factory overhead is applied at a rate of P6.00 per labor hour in the Binding department. Company J's inventory accounts show the following balances: Beginning Ending Finished Goods P22,000 P17,000 Work in Process 15,000 17,600 Materials 20,000 18,000 What is the cost of goods sold? A. P219,600 B. P214,600 C. P108,000 D. P217,200