Using the information below for Talking Toys, Inc., determine cost of goods manufactured for the year:

A) $13,000.
B) $44,500.
C) $57,500.
D) $94,500.
E) $52,000.

The cost of goods manufactured is calculated by adding direct materials used, direct labor, and manufacturing overhead incurred during the year, and subtracting the beginning work in process inventory and adding the ending work in process inventory.
Direct materials used = $21,000
Direct labor = $33,000
Manufacturing overhead = $19,000
Beginning work in process inventory = $8,000
Ending work in process inventory = $8,000
Therefore, cost of goods manufactured = ($21,000 + $33,000 + $19,000) - $8,000 + $8,000 = $57,500.