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THE Company applies overhead to jobs using a pre-determined overhead rate of 70% of direct labor cost. During 2021, THE Company began work on three

THE Company applies overhead to jobs using a pre-determined overhead rate of 70% of direct labor cost. During 2021, THE Company began work on three jobs. Information relating to these three jobs appears below:  Job #1 Job #2 Job #3 direct materials ...... $39,000 $65,000 $41,000 direct labor cost ..... $54,000 $71,800 $37,300 By the end of 2021, job #1 and job #2 had been completed. Job #3 was not completed by the end of 2021. Additionally, by the end of 2021, one-half of job #2 had been sold and one-third of Job #1 was sold. THE Company incurred total actual overhead cost of $122,740 during 2021. Calculate the cost of goods sold reported by THE Company for 2021 after the overhead variance has been closed.

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