The following information was obtained from the accounting records of Stevenson Incorporated:

Direct materials purchased$80,000

Direct materials used$54,000

Direct manufacturing labor costs$12,000

Indirect manufacturing labor costs$11,000

Selling expenses$16,000

Administrative expenses$22,000

Factory utilities costs$20,000

Rental cost of factory machines$50,000

Work in process inventory, beginning0

Work in process inventory, end0

Finished goods inventory, beginning$10,000

Finished goods inventory, end$30,000

What is Cost of Goods Sold?

A) $57,000

B) $77,000

C) $127,000

D) $147,000