Omaha Industries is a manufacturer that uses job-order costing and applies overhead to production using a single factory wide overhead rate. For purposes of this question only, assume Omaha applies overhead to production jobs using pounds of direct materials as its cost driver. Omaha provides you with the following budgeted and actual information regarding its 20X1 manufacturing operations: Budgeted Total Factory Overhead $1,050,000 Direct Materials ("DM") Requisitioned $625,000 Pounds of DM Requisitioned 25,000 Direct Labor Dollars $1,250,000 Direct Labor Hours 28,000 Machine Hours 35,000 Actual $1,080,000 $574,200 26,100 $1,242,000 27,600 36,500 Additionally, assume for this question that Omaha reported the following account balances: Reported Account Balances: 12/31/20x0 Raw Materials $280,000 Work in Process $1,575,000 Finished Goods $325,000 12/31/20x1 $375,800 $1,567,000 $400,000 What was the value of Omaha's cost of goods manufactured for the twelve months ended 12/31/20X1