A manufacturer produces unique tapestries and bedding for hotel chains and uses a job order costing system. During the current month, the manufacturer purchased $50,000 of direct materials and incurred $22,000 in direct labor. Overhead is applied on the basis of direct labor hours at a rate of 60%. Overapplied or underapplied overhead is closed to cost of goods sold at the end of the period. The actual overhead incurred this month was $10,000. Balances in the manufacturers inventory accounts are presented below. Beginning of month End of month Direct materials $2,000 $3,500 Work-in-process 5,000 9,000 Finished goods 2,500 1,700 What is the cost of goods manufactured this month? A. $76,500 B. $79,700 C. $80,500 D. $83,700