Kellems Corporation manufactures one product. It does not maintain any beginning or ending Work in Process inventories. The company uses a standard cost system in which inventories are recorded at their standard costs and any variances are closed directly to Cost of Goods Sold. The company has provided the following information: Actual sales 17,100 units Actual selling price $ 26.60 per unit Standard cost $ 21.20 per unit Actual selling and administrative expenses $ 60,000 The company does not have any variable manufacturing overhead costs and it recorded the following variances during the year: Materials price variance $ 2,340 F Materials quantity variance $ 500 U Labor rate variance $ 942 F Labor efficiency variance $ 6,300 F Fixed manufacturing overhead budget variance $ 16,600 F Fixed manufacturing overhead volume variance $ 7,980 U The adjusted Cost of Goods Sold after closing all of the variances to Cost of Goods Sold will be closest to: Multiple Choice $380,222 $344,818 $362,520 $472,562