The Foundational 15 (Algo) [LO2-1, LO2-2, LO2-3, LO2-4] [The following information applies to the questions displayed below.] Sweeten Company had no jobs in progress at the beginning of the year and no beginning inventories. It started, completed, and sold only two jobs during the year-Job P and Job Q. The company uses a plantwide predetermined overhead rate based on machine-hours. At the beginning of the year, it estimated that 4,000 machine-hours would be required for the period's estimated level of production. Sweeten also estimated $32,200 of fixed manufacturing overhead cost for the coming period and variable manufacturing overhead of $3.50 per machine-hour. Because Sweeten has two manufacturing departments-Molding and Fabrication-it is considering replacing its plantwide overhead rate with departmental rates that would also be based on machine-hours. The company gathered the following additional information to enable calculating departmental overhead rates: Estimated total machine-hours used Estimated total fixed manufacturing overhead Estimated variable manufacturing overhead per machine-hour Molding 2,500 $14,500 $3.20 Fabrication. 1,500 $ 17,700 $4.00 Total 4,000 $ 32,200 The direct materials cost, direct labor cost, and machine-hours used for Jobs P and Q are as follows: Direct materials Direct labor cost Actual machine-hours used: Job P $ 31,000 $ 35,400 Job 0 $ 17,000 $ 14,700 3,500 2,600 2,400 5,900 2,700 5,300 Molding Fabrication Total Sweeten Company had no overapplied or underapplied manufacturing overhead costs during the year. Required: For questions 1-8, assume that Sweeten Company uses a plantwide predetermined overhead rate with machine-hours as the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with machine-hours as the allocation base in both departments. the allocation base. For questions, 9-15, assume that the company uses predetermined departmental overhead rates with a plantwide predetermined overhead rate with machine-hours as machine-hours as the allocation base in both departments. Foundational 2-15 (Algo) 15. What is Sweeten Company's cost of goods sold for the year? (Do not round intermediate calculations.) Cost of goods sold