Colora Furniture Had the Following Historical Accounting Data, Per Hundred $\text { Finished shelving: }$

Colora Furniture had the following historical accounting data, per hundred board metres, concerning one of its products:
$\text { Finished shelving: }$
$\begin{array}{llr} \text { Direct materials } &\$30\\ \text { Direct labour } &16\\ \text { Variable overhead} &10\\ \text { Fixed overhead } &12\\ \text { Vaniable selling expenses } &8\\ \text { Fixed selling expenses} &4\\\end{array}$
The shelving is normally transferred internally from the Cutting Division to the Finishing Division.It also may be sold externally for $110 per hundred board metres.The minimum profit level accepted by the company is a markup of 20 percent.
-Refer to the figure.If the variable manufacturing cost transfer price method is used without a fixed fee,what will be Colora Furniture's transfer price?

A) $56
B) $64
C) $68
D) $84