M Manufacturing began business on January 1, 2015. During its first year of operation, M worked on five jobs and reported the following information at year-end: Job 1 Job 2 Job 3 Job 4 Job 5 Direct Materials Direct Labor Applied Mfg. Overhead 2,000 6,000 3,000 7,000 Job completed Job sold: Revenues: 1,500 800 200 Oct 15 Nov 1 Not completed 1,000 7,000 4,000 5,000 12,000 20,000 13,000 12,000 Jun 30 Sep Jul 10 Sep 12 Not sold Not sold 25,000 39,000 N/A N/A N/A N/A What was the Cost of Goods Sold for the year? a) $48,000 b) $44,000 c) $40,000 d) $64,000