Daane Company had only one job in process on May 1. The job had been charged with $1,000 of direct materials, $3,000 of direct labor, and $5,000 of manufacturing overhead cost. The company assigns overhead cost to jobs using the predetermined overhead rate of 150% of direct labor costs.

During May, the following activity was recorded:

Raw materials (all direct materials): Beginning balance- $8,000 Purchased during the month- $20,000

Used in production-$25,000

Direct labor costs- $18,000

Actual manufacturing overhead costs incurred- $30,000

Inventories: Raw materials May 30- $3,000

Work in process, May 30- $15,250

The cost of goods manufactured for May was:

A) $63,750 B) $66,750 C) $77,150 D) $74,822