The following data apply to Stratford Ltd Direct materials inventory, beginning of the year $5 500 Direct materials inventory, end of the year $3 000 Direct materials purchased during the year $45 000 Work in process inventory, beginning of the year $9 000 Manufacturing overhead applied during the year $20 000 Work in process inventory, end of the year $14 000 Predetermined overhead rate200 per cent of direct labour cost Calculate the cost of goods manufactured during the year. a. $86,500 b. $45,000 c. $47,500 d. $77,500 e. $72,500