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 $ 27,500.00 $ 29,600.00 $ 3,300.00 Raw Materials Purchased during the month Direct Materials used in production Indirect Materials used in production Labor Direct labor hours worked during the month Direct labor costs incurred Indirect labor costs incurred Manufacturing overhead costs incurred (total) Inventories Raw Materials, March 1 Raw Materials, March 31 Work in process, March 1 Work in process, March 31 $ 2,500.00 $ 62,500.00 $ 25,000.00 $ 42,800.00 $ 11,250.00 $ 5,850.00 $7,900.00 $ 10,350.00 The Cost of Goods Manufactured for March was