ZED Inc. incurred costs of $50,000 for direct materials (raw) purchased. Direct labor was $60,000 and factory overhead was $35,000 for May. Inventories were as follows: Raw materials beginning...

ZED Inc. incurred costs of $50,000 for direct materials (raw) purchased. Direct labor was $60,000 and factory overhead was $35,000 for May.

Inventories were as follows:

Raw materials beginning $14,000; raw materials ending $10,000

Work-in-process beginning $24,000; work-in-process ending $36,000

Finished goods beginning $10,000; finished goods ending $25,000

Required: Calculate the cost of goods manufactured for May.