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 $ 3,400 4,000 Job 5 $ 2,900 Direct materials used Direct labor used 390 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Direct materials used $ 6,300 Direct labor 4,390 Factory overhead applied 7,560 Total manufacturing costs 18,250 Add: Work in process inventory, beginning 0 Total cost of work in process 18,250 Less: Work in process inventory, ending 0 X Cost of goods manufactured $ 18,250 *Red text indicates no response was expected in a cell or a formula-based calculation is incorrect; no points deducted