23 Part 8 OHS 3.33 points i 2 01:1203] References Required information The Foundational 15 (Algo) [LO2-1, L02-2, L02-3, L02-4] [The following information appiies to the questions displayed beiowj Sweeten Company had nojobs in progress at the beginning ofthe year and no beginning inventories. It started, completed, and sold only twojobs during the yearJob P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning ofthe year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $28,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $2.50 per machine-hour. Because Sweeten has two manufacturing departmentsMolding and Fabricationit is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machinehour Molding Fabrication Total 2,599 1,599 4,999 $ 12,999 $ 16,266 $ 28,299 $ 2.29 $ 3.99 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Slob Q $ 12,666 $ 19,79- 1,69- 1,799 Job P Direct materials $ 21,666 Direct labor cost $ 27,466 Actual machine-hours used: Molding 2,566 Fabrication 1,466 Total 3,966 3,366 Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. Foundational 2-8 (Algo) 8. What is Sweeten Company's cost of goods sold for the year? (Do not round intermediate calculations.)