Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Work in process Finished goods Beginning Ending $ 42,000 $37,500 $ 23,500 $32,000 $ 39,500 $54,500 Additional information: Raw materials purchases Direct labor cost Manufacturing overhead cost incurred Indirect materials included in manufacturing overhead cost incurred Manufacturing overhead cost applied to Work in Process $73,500 $98,500 $66,500 $11,000 $65,500 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold. The cost of goods manufactured for July is: The cost of goods manufactured for July is: Multiple Choice O $222,500 O $242,000 O $231,000 O $243,000