Concord, Inc. manufactures ergonomically designed computer furniture. Concord uses a job order costing system. On November 30, the Work in Process Inventory consisted of the following jobs: Job No. CC723 CH291 PS812 Job No. CC723 CH291 PS812 DS444 Job No. Computer caddy Chair CC723 Item Printer stand On November 30, Concord's Direct Materials Inventory account totaled $671,000, and its Finished Goods Inventory totaled $3,486,400. Concord applies manufacturing overhead on the basis of machine hours. The company's manufacturing overhead budget for the year totaled $4,750,000, and the company planned to use 950,000 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 $4,294,500, and Cost of Goods Sold was $8,760,250. For the purposes of this problem, ignore year-end disposition of over/under applied overhead. Concord purchased $638,000 in direct materials in December and incurred the following costs for jobs in process that month: CH291 Chair Computer caddy DS444 Desk Item Units 20,000 10,000 Materials Machine Direct Labor Issued Hours Hours $188,000 18,000 $16,900 5,000 $238,000 $259,000 29,000 23,200 Cost of goods sold 15,000 The following jobs were completed in December and transferred to the Finished Goods Inventory: Finished goods inventory Units 20,000 10,000 Accumulated Cost 6,000 $950,000 440,000 272,000 $1,662,000 $ 12,200 $ 3,800 17,300 (c) Calculate the cost of goods manufactured for December. Cost of goods manufactured 16,800 Direct Labor Cost $125,400 $45,200 $211,500 $140,000 (e) Assume that Concord 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, e.g. 3.54. Round final answers to O decmial places, e.g. 45,000.) 1437494 $ 917006 354500