Brady's Bricks Co. manufactures all kinds of building blocks for kids. The following information is available from the company's 2023 budget:

Beginning finished goods inventory	$110,000
Ending finished goods inventory	$125,000
Sales revenue	$3,000,000
Cash collected from customers	$2,700,000
Materials purchased (all paid for in 2023)	$975,000
Materials used	$935,000
Direct labor costs	$365,000
Manufacturing overhead	$200,000
Office/admin salaries	$100,000
Marketing expenses	$21,000

What is budgeted Cost of Goods Sold for 2023?

$1,525,000

$1,515,000

$1,475,000

$1,485,000