Tubbs and Company manufactures custom motorcycles.
Tubbs uses a job-cost system and provides the following information related to the work-in-process account for the month of January:
January 1 balance ........ $22,500
Direct material used ...... 25,000
Direct labor incurred ...... 24,000
Manufacturing overhead applied . 36,000

Tubbs applies manufacturing overhead based on direct labor cost. Job No. 232 was the only job still in process at the end of January. As of January 31, this job, which was started in January, contains direct materials of $4,250 and direct labor of $2,500.

Required:
Determine the cost of goods manufactured during January.