5 Jorge Industries uses Job order costing system and applies manufacturing overhead to jobs based on Machine hours. For 2019 budgeted manufacturing overhead was $600,000, and the budgeted Machine hours were 40,000 Machine hours. Actual results for 2019 shows that actual machine hours totaled 40,800 Machine Hours, and actual Manufacturing overhead was $606,800. The company policy is to prorate over or underapplied overhead between Work in process, finished Goods and Cost of Goods Sold (peroration method). Following end-of-year balances for the three accounts: Work-in-process $100,000; Finished goods $250,000, Cost of goods sold 1,650,000; On the basis of this information, what will be the balance of Jorge's cost of goods sold that will be reported in the income statement? (Show all necessary calculations here) (2 points)