Molzahn Corporation is a manufacturer that uses job-order costing. The company closes out any overapplied or underapplied overhead to Cost of Goods Sold at the end of the year. The company has supplied the following data for the just completed year: Estimated total manufacturing overhead at the beginning of the year Estimated direct labor-hours at the beginning of the year $481,250 35,000 direct labor-hours Results of operations: 40,000 direct labor-hours Actual direct labor-hours Manufacturing overhead: Indirect labor cost Other manufacturing overhead costs incurred $179,000 $ 465,000 Manufacturing overhead is overapplied or underapplied by: Multiple Choice 0 $94.000 Overapplied 0 $165,000 Overapplied 0 $165,000 Underapplied 0 $94.000 Underapplied The following partially completed T-accounts are for Stanford Corporation: Work In Process Bal Raw Materials 7,000 (2) 19,000 (1) 24,000 Bal (2) (4) 11,000 (7) 15,000 18,000 31,000 (6) Bal 31,000 Finished Goods 18,000 62,000 15,000 (3) Manufacturing Overhead 9,000 (6) 16,000 8,000 5,000 Accumulated Depreciation--Factory Bal (3) (4) Sales Salaries Expense 11,000 82,000 16,000 Salaries and Wages Payable Accounts Payable Bal (1) (5) 7,000 37,000 19,000 5,000 The cost of direct materials used is: Multiple Choice O $24,000 o $14,000 o O $15,000 The following accounts are from last year's books at Sharp Manufacturing: Bal 154,000 Bal 510,000 (a) Raw Materials o (b) 164,000 10,000 (b ) Work In Process 0 (f) 132,000 168,000 210,000 460,000 210,000 Bal (f) Finished Goods 0 (g) 510,000 50,000 (b) (c) (d) Manufacturing Overhead 22,000 (e) 26,000 156,000 6,000 (g) Cost of Goods Sola 460,000 Sharp uses job-order costing and applies manufacturing overhead to jobs based on direct labor costs. What is the amount of cost of goods manufactured for the year? Multiple Choice 0 $460,000 O $510,000 0 $252,000 $454,000