X Your answer is incorrect. Assume that Sheffield prorates under-or overapplied overhead to the appropriate accounts. Calculate the allocated amounts and adjust the account balances as needed. (Round % of total answers to 1 decimal places, e.g. 52.7% and other answers to 0 decimal places e.g. 5,275.) Ending Balance % of total Allocation Adjusted Balance Work In Process 243000 % Finished Goods 1438550 % $ Cost of Goods Sold % $ $ e Textbook and Media 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 10,000 CC723 CH291 PS812 Computer caddy Chair 9,000 12,000 Accumulated Cost $502,050 247,800 133,000 $882,850 Printer stand On November 30, Sheffield's Raw Materials Inventory account totaled $144,000, and its Finished Goods Inventory totaled $538,000. Sheffield applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $1,820,000, and the company planned to use 140,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 118,000 machine hours, total manufacturing overhead amounted to $1,818,700, and Cost of Goods Sold was $4,680,000. Sheffield purchased $638,000 in raw materials in December and incurred the following costs for jobs in process that month: Direct Labor Hours Direct Labor Cost Job No. Materials Issued $85,000 $7,000 $110,000 $123,000 Machine Hours 4,250 650 CC723 9,600 2,400 CH291 $115,200 $28,800 $171,600 $104,400 PS812 DS444 4,400 2,200 14,300 8,700 The following jobs were completed in December and transferred to the Finished Goods Inventory: The following jobs were completed in December and transferred to the Finished Goods Inventory: Units 10,000 Job No. CC723 CH291 DS444 Item Computer caddy Chair Desk 9,000 5,000 Assume that Sheffield sold 8,200 computer caddies, 8,000 chairs, and 4,500 desks in December. Your answer is partially correct. Sheffield incurred $172,800 in manufacturing overhead in December. Given that expenditure, was manufacturing overhead under-or overapplied for the year? By how much? Overhead Underapplied by $ 23300 e Textbook and Media List of Accounts Account Titles and Explanation Debit Credit Cost of Goods Sold 23300 e Textbook and Media List of Accounts * Your answer is incorrect. Assume that Sheffield prorates under-or overapplied overhead to the appropriate accounts. Calculate the allocated amounts and adjust the account balances as needed. (Round % of total answers to 1 decimal places, e.g. 52.7% and other answers to 0 decimal places e.g. 5,275.) Ending Balance % of total Allocation Adjusted Balance $ 243000 % $ $ Work In Process Finished Goods $ 1438550 % $ Cost of Goods X Your answer is incorrect. Assume that Sheffield prorates under-or overapplied overhead to the appropriate accounts. Calculate the allocated amounts and adjust the account balances as needed. (Round % of total answers to 1 decimal places, e.g. 52.7% and other answers to 0 decimal places e.g. 5,275.) Ending Balance % of total Allocation Adjusted Balance Work In Process 243000 % Finished Goods 1438550 % $ Cost of Goods Sold % $ $ e Textbook and Media 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 10,000 CC723 CH291 PS812 Computer caddy Chair 9,000 12,000 Accumulated Cost $502,050 247,800 133,000 $882,850 Printer stand On November 30, Sheffield's Raw Materials Inventory account totaled $144,000, and its Finished Goods Inventory totaled $538,000. Sheffield applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $1,820,000, and the company planned to use 140,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 118,000 machine hours, total manufacturing overhead amounted to $1,818,700, and Cost of Goods Sold was $4,680,000. Sheffield purchased $638,000 in raw materials in December and incurred the following costs for jobs in process that month: Direct Labor Hours Direct Labor Cost Job No. Materials Issued $85,000 $7,000 $110,000 $123,000 Machine Hours 4,250 650 CC723 9,600 2,400 CH291 $115,200 $28,800 $171,600 $104,400 PS812 DS444 4,400 2,200 14,300 8,700 The following jobs were completed in December and transferred to the Finished Goods Inventory: The following jobs were completed in December and transferred to the Finished Goods Inventory: Units 10,000 Job No. CC723 CH291 DS444 Item Computer caddy Chair Desk 9,000 5,000 Assume that Sheffield sold 8,200 computer caddies, 8,000 chairs, and 4,500 desks in December. Your answer is partially correct. Sheffield incurred $172,800 in manufacturing overhead in December. Given that expenditure, was manufacturing overhead under-or overapplied for the year? By how much? Overhead Underapplied by $ 23300 e Textbook and Media List of Accounts Account Titles and Explanation Debit Credit Cost of Goods Sold 23300 e Textbook and Media List of Accounts * Your answer is incorrect. Assume that Sheffield prorates under-or overapplied overhead to the appropriate accounts. Calculate the allocated amounts and adjust the account balances as needed. (Round % of total answers to 1 decimal places, e.g. 52.7% and other answers to 0 decimal places e.g. 5,275.) Ending Balance % of total Allocation Adjusted Balance $ 243000 % $ $ Work In Process Finished Goods $ 1438550 % $ Cost of Goods