Maali Company, uses a budgeted factory overhead rate based on Direct Labor Hours (DLH) to apply overhead to production. The following data are available for the year ended December 31, 2020: Budgeted manufacturing overhead: $845,000. Budgeted direct labor hours: 65,000 DLH. Actual manufacturing overhead for the year: $862,000. Actual direct labor hours: 68,000 DLH. The Following balances appeared at 31/12/2014 (before any adjustments related to over or under applied MOH) Cost of Goods Sold: $2,000,000 Direct Material inventory: $600,000. Work-in-Process inventory: $800,000. Finished Goods Inventory: $700,000. The company policy is to prorate the over or under applied MOH to appropriate accounts (Proration Method). Calculate the balance of Cost of Goods Sold after closing the over or under applied overhead (show calculations here)