e)

Assume that Sheffield sold 15,000 computer caddies, 12,000 chairs, and 4,500 desks in December. Calculate Cost of Goods Sold for the month of December and the ending Finished Goods Inventory balance on December 31. (For computation purpose round per unit rates to 2 decimal places, e.g. 3.54. Round final answers to 0 decmial places, e.g. 45,000.)

Cost of goods sold		$Enter cost of goods sold in dollars rounded to 0 decimal places Enter cost of goods sold in dollars rounded to 0 decimal places
Finished goods inventory		$Enter finished goods inventory in dollars rounded to 0 decimal places Enter finished goods inventory in dollars rounded to 0 decimal places

Sheffield, Inc. manufactures ergonomically designed computer furniture. Sheffield uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Accumulated Cost Job No. CC723 CH291 PS812 Item Computer caddy Chair Printer stand Units 22,000 16,000 28,000 $900,000 433,000 263,000 $1,596,000 On November 30, Sheffield's Raw Materials Inventory account totaled $685,000, and its Finished Goods Inventory totaled $3.466,400. Sheffield applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $4,750,000, and the company planned to use 950,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 830,000 machine hours, total manufacturing overhead amounted to $4,294,500, and Cost of Goods Sold was $8,750,250. For the pursposes of this problem, ignore year-end disposition of over / under applied overhead. Sheffield purchased $648,000 in raw materials in December and incurred the following costs for jobs in process that month: Materials Issued Machine Hours Direct Labor Hours Direct Labor Cost Job No. 12,600 CH291 PS812 DS444 $172,000 $17,200 $247,000 $258,000 14,000 4,800 20,300 14,000 3.900 15,300 13.900 $126,400 $49,200 $200,500 $141,000 The following jobs were completed in December and transferred to the Finished Goods Inventory: Job No. Item Units CC723 Computer caddy 22,000 16,000 CH291 DS444 Chair Desk 6,000 (a) Calculate the total cost of each of the four jobs worked on in December. CC723 CH291 PS812 DS444 Total Cost $ (b) Calculate the total manufacturing cost for December. Total manufacturing cost $ (c) Calculate the cost of goods manufactured for December Cost of goods manufactured $ (d) Calculate the balance in the Work in Process Inventory account on December 31. Balance in work in process $