Hamilton Company uses a normal job-cost system. Manufacturing overhead is allocated using a budgeted rate of 150% of direct labor cost. Any over- or under-allocated manufacturing overhead is closed to the Cost of Goods Sold account at the end of each year. Additional Information is available as follows: Job 101 was the only Job in process on January 1, 2020. The job cost sheet for this job contained the following costs at the beginning of the month: o Direct materials $4,000 Direct labor $2,000 Allocated manufacturing overhead $3,000 Jobs 102, 103, and 104 were started during 2020. Direct materials used in 2020 totaled $26,000, Direct labor cost of $20,000 was incurred in 2020, Actual manufacturing overhead was $32,000 in 2020, The only Job still in process on December 31, 2020 was Job 104, with costs of $2,800 for direct materials and $1,800 for direct labor. The cost of goods manufactured for 2020 was: O $76,000 $80,400 $79.700 $77.700 $85,000