36 0.23 points eBook Shen Company reports the costs incurred below for the month ended May 31. The company has no beginning Work in Process Inventory. Overhead is applied using a predetermined overhead rate of 120% of direct materials costs. Job 4 was completed and Job 5 is still in process at month-end. Prepare a schedule of cost of goods manufactured for the month. Job 4 Job 5 Direct materials used Direct labor used $ 1,500 2,100 $ 1,000 200 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Direct materials used $ 2,500 Print Direct labor 2,300 Factory overhead applied References Total manufacturing costs 4,800 Add: Work in process inventory, beginning Total cost of work in process 4,800 Less: Work in process inventory, ending Cost of goods manufactured $ 4,800