At the end of the year, Job #667 In work in process has recorded costs of Help Save & Exit Submit Direct materials Direct labor Applied overhead $3,000 1,000 1,000 The production supervisor estimates it will take an additional $1,000 of labor, which will also result in $1,000 of applied overhead, to finish the job. The company had previously provided a quote to the customer for $7,000 and indicated it was a fixed price. What LCM adjustment is required at the end of the year? Multiple Choice O $3,000 $0 $2,000 $1,000