Wabash Products uses a job costing system and applies overhead based on direct labor cost. Last year, manufacturing overhead was expected to be $3,584,000 and direct labor cost was estimated to be $1,400,000 (41,600 direct-labor hours). Actual manufacturing overhead amounted to $3,728,000 and direct labor cost was $1,500,000 (43,300 direct-labor hours). 85 pints Wabash allocates an over- or underapplied overhead to the three accounts-Work-in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold-based on those account balances. At the end of the year, the total amount in the three accounts (Work- in-Process Inventory, Finished Goods Inventory, and Cost of Goods Sold) was $6.40 million before any allocation. As a part of the process, you learn that Wabash allocated $97,440 to Cost of Goods Sold. eBook Required: What will Wabash report as Cost of Goods Sold for the year? Print Cost of Goods Sold