Required information [T he foiiowing information appiies to the questions displayed beiow] Finlon Upholstery, lnc., uses a joborder costing system to accumulate manufacturing costs. The company's workin process on December 31. 20x1, consisted of onejob (no. 2077). which was carried on the yearend balance sheet at $156,800. There was no nishedgoods inventory on this date. Finlon applies manufacturing overhead to production on the basis of directlabor cost. (The budgeted directlabor cost is the company's practical capacity, in terms of directlabor hours, multiplied by the budgeted directlabor rate.) Budgeted totals for 20x2 for direct labor and manufacturing overhead are $4,200,000 and $5,544,000. respectively. Actual results for the year follow. Direct material used $ 5,559,999 Direct labor 4,359,999 Indirect material used 55,999 Indirect labor 2,869,999 Factory depreciation 1,749,999 Factory insurance 58,999 Factory utilities 839,999 Selling and administrative expenses 2,169,999 Total $1?,513,999 Job no. 2077 was completed in January 20x2; there was no work in process at yeareend. Alljobs produced during 20x2 were sold with the exception ofjob no. 2143. which contained directmaterial costs of $155,000 and direct-labor charges of $85,000. The company charges any under or overapplied overhead to Cost of Goods Sold. 6. Determine the company's 20x2 cost of goods sold. Finishedgoods inventory, Jan. 1 Cost of goods available for sale Unadjusted cost of goods sold Cost of goods sold