Direct Materials Inventory, beginning of the year $ 5,500 Direct Materials Inventory, end of the year 3,000 Direct Materials, purchased during the year 45,000 Work-in-Process Inventory, beginning of the year 9,000 Manufacturing Overhead, applied during the year 20,000 Work-in-Process Inventory, end of the year 14,000 Finished Goods Inventory, beginning of the year 7,500 Finished Goods Inventory, end of the year 5,000 Cost of Goods Sold, during the year 75,000 Underapplied Manufacturing Overhead 2,000 Predetermined overhead rate 200% of direct labor cost Refer to the above information. Calculate the cost of goods manufactured during the year. A. $62,500 B. $67,500 C. $70, 500 D. $72,500 E. $74,500