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 130% 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 $ 3,500 Direct materials used i Direct labor used i Job 5 $3,000 400 4,100 SHEN COMPANY Schedule of Cost of Goods Manufactured For Month Ended May 31 Add: Work in process inventory, beginning $ 0 0 Compute cost of goods sold using the following information. Merchandise inventory, beginning Cost of merchandise purchased Merchandise inventory, ending $ 12,200 85,200 18,200 Cost of Goods Sold is Computed as: Cost of goods sold S 0