Assume the following from a schedule of cost of goods manufactured (the company uses no indirect materials in production):

Beginning work in process inventory	$ 10,000
Ending work in process inventory	$ 14,000
Beginning raw materials inventory	$ 3,000
Ending raw materials inventory	$ 6,000
Purchases of raw materials	$ 38,000
Direct labor	$ 17,000
Actual manufacturing overhead costs incurred	$ 34,000
Manufacturing overhead applied to production	$ 32,000

What is the cost of goods manufactured?

Multiple Choice

• $82,000
• $84,000
• $78,000
• $80,000