! Required Information (The following information applies to the questions displayed below.] Finlon Upholstery, Inc., uses a job-order costing system to accumulate manufacturing costs. The company's work-in- process on December 31, 20x1, consisted of one Job (no. 2077), which was carried on the year-end balance sheet at $156,800. There was no finished-goods inventory on this date. Finlon applies manufacturing overhead to production on the basis of direct-labor cost. (The budgeted direct-labor cost is the company's practical capacity, in terms of direct-labor hours, multiplied by the budgeted direct-labor 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 Direct labor Indirect material used Indirect labor Factory depreciation Factory insurance Factory utilities Selling and administrative expenses Total $ 5,500,000 4,350,000 65,000 2,860,000 1,740,000 58,000 830,000 2,160,000 $17,563,000 Job no. 2077 was completed in January 20x2, there was no work in process at year-end. All jobs produced during 20x2 were sold with the exception of Job no. 2143, which contained direct- material 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. $ 0 $ Finished-goods inventory, Jan. 1 Add: Cost of goods manufactured Cost of goods available for sale Less: Finished-goods inventory, Dec. 31 Unadjusted cost of goods sold Less: Underapplied overhead Cost of goods sold 15,711,800 15,711,800 351,200 15,360,600 106,000 15,254,600 S $