Hendrix & Franks Company had the following beginning and ending inventory balances for the current year ended December 31:
January 1 December 31
Materials $11,000 $ 8,800
Work in Process 19,800 18,700
Finished Goods 23,100 18,150

In addition, direct labor costs of $33,000 were incurred, manufacturing overhead equaled $46,200, materials purchased were $29,700, and selling and administrative costs were $24,200. Hendrix & Franks Co. sold 27,500 units of product during the year at a sales price of $5.25 per unit. What was the amount of cost of goods manufactured for the year?

a.$106,500
b.$102,000
c.$111,100
d.$123,000