Conrad, Incorporated recently lost a portion of its records in an office fire. The following information was salvaged from the accounting records.

Cost of Goods Sold $ 65,000 Work-in-Process Inventory,

Beginning 10,500 Work-in-Process Inventory,

Ending 9,000 Selling and Administrative

Expense 15,000 Finished Goods Inventory,

Ending 15,000 Finished Goods Inventory, Beginning ?

Direct Materials Used ?

Factory Overhead Applied 12,000 Operating Income 14,000

Direct Materials Inventory, Beginning 11,000

Direct Materials Inventory, Ending 6,000

Cost of Goods Manufactured 60,000

Direct labor cost incurred during the period amounted to 1.5 times the factory overhead.

The Chief Financial Officer of Conrad, Incorporated has asked you to recalculate the following accounts and to report to him by the end of the day.

What is the amount of net sales?

$72,500.

$75,000.

$96,000.

$68,500.

$94,000.