Perry Company manufactures wood file cabinets. The following information is available for June of the current year.

	Beginning	Ending
Raw Material Inventory	$ 6,000	$ 7,500
Work in Process Inventory	17,300	11,700
Finished Goods Inventory	21,000	16,300

The direct labor rate is $9.60 per hour and overhead for the month was $9,600. Refer to Perry Company. If there were 1,500 direct labor hours and $21,000 of raw material purchased, Cost of Goods Manufactured is:

		$49,100.
		$45,000.
		$51,000.
		$49,500.