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: Job No. Item Units Accumulated Cost CC723 Computer caddy 20,000 $ 900,000 CH291 Chair 10,000 433,000 PS812 Printer stand 28,000 263,000 $ 1,596,000 On November 30, Sheffield's Direct 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 purposes of this problem, ignore year-end disposition of over / under applied overhead. Sheffield purchased $ 648,000 in direct 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. Sheffield purchased $ 648,000 in direct 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. CC723 $ 172,000 14,000 12,600 $ 126,400 CH291 $ 17,200 4,800 3,900 $ 49,200 PS812 $ 247,000 20,300 15,300 $ 200,500 DS444 $ 258,000 14,000 13,900 $ 141,000 The following jobs were completed in December and transferred to the Finished Goods Inventory: Job No. Item Units CC723 Computer caddy 20,000 CH291 Chair 10,000 DS444 Desk 5,000 (d) Calculate the balance in the Work in Process Inventory account on December 31. Balance in work in process $ (e) Assume that Sheffield sold 8,200 computer caddies, 10,000 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 $ Finished goods inventory $