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8. Lucas Enterprises has no work-in-process or finished goods inventories at year-end. The balances of Lucas' accounts includes the following: Cost of goods sold General selling and administrative expenses Sales $2,040,000 900,000 3,600,000 Lucas has incurred actual manufacturing overhead cost of $700,000 and applied $690,000 of manufacturing overhead during the year. Lucas closes any over (under)- applied manufacturi overhead directly to cost of goods sold. After closing out over (under)- applied manufacturin overhead, Lucas' operating profit before taxes for the year is: A) $712,000 B) $670,000 C) $650,000 D) $1,508,000 E) None of the above