GHI Inc. has commenced work on three jobs during its first year of operations. Costs incurred for each of these jobs are as follows:

	Job 1	Job 2	Job 3
Direct Materials	$100,000	$150,000	$200,000
Direct Labour	$100,000	$200,000	$250,000

Overhead is applied to jobs at a rate of $0.50 per direct labour dollar spent. During the year, Job 1 was completed, while Job 2 was completed and sold. Job 3 is still process at the end of the year. GHI's Cost of Goods Available for Sale for the year was:

Multiple Choice

• $250,000

• $450,000

• $700,000

• $1,275,000