Using $3,000,000 as the total manufacturing costs, compute the cost of goods manufactured using the following information. Raw materials inventory, January 1 $ 20,000 Raw materials inventory, December 31 40,000 Work in process, January 1 18,000 Work in process, December 31 12,000 Finished goods, January 1 40,000 Finished goods, December 31 32,000 Raw materials purchases 1,700,000 Direct labor 760,000 Factory utilities 150,000 Indirect labor 50,000 Factory depreciation 400,000 Operating expenses 420,000 a. $3,014,000 b. $3,006,000 c. $3,008,000 d. $2,994,000