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Weston Company began operations in 2021. During the year, the company worked on three jobs. Information related to these three jobs is given below: Job

Weston Company began operations in 2021. During the year, the company worked on three jobs. Information related to these three jobs is given below:  Job #1 Job #2 Job #3 direct materials ...... $40,300 $63,900 $22,600 direct labor cost ..... $53,500 $78,400 $34,600 By the end of the year, Job #1 and Job #2 were completed. Job #3 was not completed by the end of 2021. Additionally, by the end of 2021, Job #2 had been sold. Job #1 was not sold by the end of 2021. Overhead is applied to jobs using a pre-determined rate of 80% of direct labor cost. The actual overhead cost incurred during 2021 amounted to $142,740. Calculate the amount of cost of goods sold reported in the 2021 income statement after the overhead variance has been closed.

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