Backflush Costing

Telluride Products Company implemented a JIT work environment in its shovel division eight months ago, and the division has been operating at near capacity since then. At the beginning of May, Work in Process Inventory and Finished Goods Inventory had zero balances. The following transactions took place during the month:

• Ordered, received, and used handles and sheet metal costing $11,340.
• Direct labor costs incurred, $5,400.
• Overhead costs incurred, $8,100.
• Completed shovels costing $24,800.
• Sold shovels costing $24,000.

Using backflush costing, calculate the ending balance in the Work in Process Inventory and Finished Goods Inventory accounts.

Ending balance of Work in Process Inventory	$
Ending balance of Finished Goods Inventory	$