Sheridan, Inc. manufactures ergonomically designed computer furniture. Sheridan 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		30,000			$940,000
CH291		Chair		20,000			431,000
PS812		Printer stand		28,000			268,000
							$1,639,000

On November 30, Sheridans Direct Materials Inventory account totaled $694,000, and its Finished Goods Inventory totaled $3,456,400. Sheridan applies manufacturing overhead on the basis of machine hours. The companys manufacturing overhead budget for the year totaled $4,950,000, and the company planned to use 990,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 840,000 machine hours, total manufacturing overhead amounted to $4,274,500, and Cost of Goods Sold was $8,760,250. For the purposes of this problem, ignore year-end disposition of over / under applied overhead. Sheridan purchased $648,000 in direct materials in December and incurred the following costs for jobs in process that month:

Job No.		Materials Issued		Machine Hours		Direct Labor Hours		Direct Labor Cost
CC723		$190,000		12,000		12,300		$126,400
CH291		$17,700		4,500		3,600		$49,200
PS812		$237,000		24,100		17,300		$223,500
DS444		$260,000		14,000		18,700		$148,000

The following jobs were completed in December and transferred to the Finished Goods Inventory:

Job No.		Item		Units
CC723		Computer caddy		30,000
CH291		Chair		20,000
DS444		Desk		8,000

Assume that Sheridan sold 8,200 computer caddies, 20,000 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?

(c) Calculate the cost of goods manufactured for December Cost of goods manufactured $ 2314800 (d) Calculate the balance in the Work in Process Inventory account on December 31. Balance in work in process $ 849000 (e) Assume that Sheridan sold 8,200 computer caddies, 20,000 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 decrial places, e.g. 45,000.) Cost of goods sold $ Finished goods inventory $ e Textbook and Media Save for Later Attempts: 1 of 3 used Submit