Question 14 (2 points) On December 31, 2017 (the end of its first year of operation), Worley Company had over-applied overhead of $45,000. Before disposition of the over-applied overhead, selected December 31, balances from Worley's accounting records are as follows: Cost of goods sold $720,000 Ending Inventories Direct materials $36,000 Work in process $54,000 Finished goods $90,000 Worley uses the proration method to close over/under-applied overhead. In its 2017 income statement, Worley should report cost of goods sold of: $682,500 $684,000 $756,000 20 $757,500 None of the above