Lund company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor costs. what is the cost of goods manufactured?

Lund Company applies manufacturing overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. Any underapplied or overapplied manufacturing overhead cost is closed out to Cost of Goods Sold at the end of the month. During March. the following transactions were recorded by the company: Raw materials (all direct materials): Purchased during the month S27,000 Used in production S28.000 Labor: Direct labor hours worked during the month...... 2,500 Direct labor cost incurred $20,000 Indirect labor cost incurred S5,500 Manufacturing overhead costs incurred (total) S17,000 Inventories: Raw materials (all direct), March 31 S7,500 Work in process, March 1 S10,500 Work in process, March 31 S14,000 *contains S5,000 in direct labor cost. 48. The Cost of Goods Manufactured for March was: A. $66,500 B. $61,500 C. $59,500 D. $63,000