Morrow Corporation had only one job in process during May—Job X32Z—and had no finished goods inventory on May 1. Job X32Z was started in April and finished during May. Data concerning that job appear below: Beginning balance $ 5,000 Charged to the job during May Direct materials $ 8,000 Direct labor $ 2,000 Manufacturing overhead applied $ 4,000 Units completed 100 Units in process at the end of May 0 Units sold during May 40 In May, overhead was overapplied by $300. The company adjusts its cost of goods sold every month for the amount of the overhead that was underapplied or overapplied. Required: Using the indirect method, determine the cost of goods sold for May.