Your answer is partially correct. 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 Accumulated Cost CC723 Computer caddy 20,000 $960,000 CH291 Chair 10,000 433,000 PS812 Printer stand 26,000 300,000 $1,693,000 On November 30, Sheffield's Direct Materials Inventory account totaled $697,000, and its Finished Goods Inventory totaled $3,476,400. Sheffield applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $5,000,000, and the company planned to use 1,000,000 machine hours during the year. Through the first eleven months of the year, the company used a total of 850,000 machine hours, total manufacturing overhead amounted to $4,284,500, and Cost of Goods Sold was $8,760,250. For the purposes of this problem, ignore year-end disposition of over/under applied overhead Sheffield purchased $648,000 in direct materials in December and incurred the following costs for jobs in process that month Sheffield purchased $648,000 in direct materials in December and incurred the following costs for jobs in process that month: Materials Machine Direct Labor Direct Labor Job No. Issued Hours Hours Cost CC723 $192,000 13,000 13,200 $122.400 CH291 $18,500 4,600 4,000 $47,200 PS8121 $247,000 22,000 14,300 $225,500 DS444 $260,000 17,000 16,900 $138,000 The following jobs were completed in December and transferred to the Finished Goods Inventory Job No. Item Units CC723 Computer caddy 20,000 CH291 Chair 10,000 DS444 Desk 7,000 the total cost of each of the four jobs worked on in December CC723 CH291 ist $ 1339400 521700/ PS812 D5444 882500 $ 483000 the total cost of each of the four jobs worked on in December. CC723 st CH291 1339400 $ 521700 (b) Calculate the total manufacturing cost for December. Total manufacturing cost 1533600 (c) Calculate the cost of goods manufactured for December. Cost of goods manufactured $ 2344100 PS812 DS444 882500 $ (d) Calculate the balance in the Work in Process Inventory account on December 31. Balance in work in process. $ 882500 483000 ulate Cost of Goods Sold (c) Calculate the cost of goods manufactured for December. Cost of goods manufactured $ 2344100 (d) Calculate the balance in the Work in Process Inventory account on December 31. Balance in work in process 882500 (e) Assume that Sheffield sold 8,200 computer caddies, 10,000 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, eg. 3.54. Round final answers to O decmial places, eg. 45,000.) Cost of goods sold $ 1381354 Finished goods inventory $ 4378022