10) The records for the previous year for Sarasota Boat Builders, Inc. show the following data: Selling and administrative expenses $300.000 Direct materials used 530,000 Direct labor (100,000 hours) 600,000 Factory overhead predetermined overhead rate $5 per Direct Labor Hour Inventories Ending Work in process Finished goods Beginning 5.150.000. $.80,000 ............. .$.160,000 .....50.000 The cost of goods sold is: a) $ 1,630,000 b) $1,880,000 c) $1,600,000. d) $ 1,650,000