Connecticut Manufacturing began business on January 1. During its first year of operation, Connecticut worked on...

 

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Connecticut Manufacturing began business on January 1. During its first year of operation, Connecticut worked on five industrial jobs and reported the following information at year-end: Direct Materials Direct Labor Allocated Mfg. Overhead Job completed: Job sold: Revenues: Job 1 Job 2 Job 3 Job 4 Job 5 $2,800 $8,400 $4,000 $3,500 $1,500 $15,000 $21,300 $13,000 $12,000 $800 $1,700 $7,600 $2,500 $7,500 $200 Jun 30 Jul 10 $33,000 Sep 1 Sep 12 $48,000 Oct 15 Nov 1 Not completed Not sold N/A Not sold N/A N/A N/A Connecticut's allocation of overhead costs left a debit balance of $1,700 in the Manufacturing Overhead account, which was adjusted to zero at year-end. What was the final balance in Cost of Goods Sold for the year ended December 31? Connecticut Manufacturing began business on January 1. During its first year of operation, Connecticut worked on five industrial jobs and reported the following information at year-end: Direct Materials Direct Labor Allocated Mfg. Overhead Job completed: Job sold: Revenues: Job 1 Job 2 Job 3 Job 4 Job 5 $2,800 $8,400 $4,000 $3,500 $1,500 $15,000 $21,300 $13,000 $12,000 $800 $1,700 $7,600 $2,500 $7,500 $200 Jun 30 Jul 10 $33,000 Sep 1 Sep 12 $48,000 Oct 15 Nov 1 Not completed Not sold N/A Not sold N/A N/A N/A Connecticut's allocation of overhead costs left a debit balance of $1,700 in the Manufacturing Overhead account, which was adjusted to zero at year-end. What was the final balance in Cost of Goods Sold for the year ended December 31?