The following cost data for the month of May were taken from the records of the Terrence Manufacturing Company: (CIA adapted) Depreciation on factory equipment Depreciation on sales office $ 2,000 400 Advertising 8,000 Wages of production workers 29,500 Raw materials used 42,000 Sales salaries and commissions 11,000 Factory rent 3,000 Factory insurance 400 Materials handling 2,500 Administrative salaries 3,000 Based upon this information, the manufacturing cost incurred during the month was: Multiple Choice $76,900 $79,800. $81,500 $79,400. Compute the Cost of Goods Sold for 2019 using the following information: Direct Materials, Jan. 1, 2019 $ 42,500 Work-in-Process, Dec. 31, 2019 67,000 Direct Labor 51,000 Finished Goods, Dec. 31, 2019 110,000 Finished Goods, Jan. 1, 2019 135,500 Manufacturing Overhead 72,000 Direct Materials, Dec. 31, 2019 48,000 Work-in Process, Jan. 1, 2019 92,000 Purchases of Direct Material 80,000 Multiple Choice $203,000 $222,500 $248,000 $250,000