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 51 is still in process at month-end. Prepare a schedule of cost of goods manufactured for the month. Direct materials used Direct labor used Job 4 $1,900 2,500 Job 5 $1,400 240 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Direct materials used Direct labor Factory overhead applied Total manufacturing costs $ 3,300 2.740 3,960 10,000 Add Work in process inventory, beginning Total cost of work in process 10,000 Less Work in process inventory, ending 4476 Cost of goods manufactured $ 10,000)