Calculate the cost of goods sold using the following information: Direct materials Direct labor Factory overhead costs General and administrative expenses Selling expenses Work in Process inventory, January 1 Work in Process inventory, December 31 Finished goods inventory, January 1 Finished goods inventory, December 31 $299,200 132,700 264,700 86,200 49,500 119,200 126,600 232,800 239,400 Multiple Choice o $682,600. o $704,000. o $75,400. o $689,200. o $696,600. h 415 4 1 Help Save & Exits Kayak Company uses a job order costing system and allocates its overhead on the basis of direct labor costs. Kayak Company's production costs for the year were direct labor, 540.000 direct materials, $60,000, and factory overhead applied $7000. The overhead application rate was Multiple Choice o Osr. o o rsov o sman o soo