Your accounting manager has requested an analysis of costs associated with the production of Talkboys. The company applies Manufacturing Overhead to jobs using a predetermined overhead rate of 75% of direct labor cost. The company closes overapplied and underapplied overhead to cost of goods sold. Raw materials beginning inventory balance was $12,000. The company purchased $25,000 of raw materials during the year; the ending raw materials inventory balance was $7,000. Direct labor costs for the year was $20,000 and actual Manufacturing Overhead incurred was $12,000. Beginning work-in-process balance was $40,000; the ending balance was $46,000. Beginning and ending finished goods balances were $12,000 and $59,000, respectively. There were no indirect materials used. What was Cost of Goods Manufactured for the year