Chavez Corporation reported the following data for the month of July: Inventories: Beginning Ending Raw materials $40,000 $36,500 Work in process $22,500 $30,000 Finished goods $38,500 $53,500 Additional information: Raw materials purchases $72,500 Direct labor cost $97,500 Manufacturing overhead cost incurred $65,500 Indirect materials included in manufacturing overhead cost incurred $10,600 Manufacturing overhead cost applied to Work in Process $64,500 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is: Multiple Choice