Chavez Corporation reported the following data for the month of July: Inventories: Raw materials Work in process Finished goods Beginning Ending $ 41,000 $37,000 $ 23,000 $31,000 $ 39,000 $54,000 Additional information: $73,000 $98,000 $66,000 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 $10,800 $65,000 Any underapplied or overapplied manufacturing overhead is closed out to cost of goods sold