During 2020, Jones Manufacturing expected Job No. 51 to cost
$300,000
of overhead,
$500,000
of materials, and
$200,000
in labor. Jones applied overhead based on direct labor cost. Actual production required an overhead cost of
$295,000,$570,000
in materials used, and
$220,000
in labor. All of the goods were completed. What amount was transferred to Finished Goods? 1)
$1,090,000
2)
$1,120,000
3)
$1,085,000
4)
$1,000,000