Using $3,000,000 as the Total Manufacturing Costs, Compute the Cost

Using $3,000,000 as the total manufacturing costs, compute the cost of goods manufactured using the following information. $$\begin{array} { l r } \text { Raw materials inventory, January 1 } & \$ 20,000 \\\text { Raw materials inventory, December 31 } & 40,000 \\\text { Work in process, January 1 } & 18,000 \\\text { Work in process, December 31 } & 12,000 \\\text { Finished goods, January 1 } & 40,000 \\\text { Finished goods, December 31 } & 32,000 \\\text { Raw materials purchases } & 1,700,000 \\\text { Direct labor } & 760,000 \\\text { Factory utilities } & 150,000 \\\text { Indirect labor } & 50,000 \\\text { Factory depreciation } & 400,000 \\\text { Operating expenses } & 420,000\end{array}$$

A) $3,014,000.
B) $2,994,000.
C) $3,006,000.
D) $3,008,000.