A cost sheet and partial finished goods ledger card for Leather Originals, a manufacturer of leather furniture, are provided in the Working Papers. Work independently to complete the following problem. 

1. Complete the cost sheet for Job No. 711 by filling in the Summary columns. Factory overhead is applied based on direct labor hours. Estimated factory overhead for the period was $3,000,000. The number of estimated direct labor hours was 200,000. A total of 743 direct labor hours was used on Job No. 711. 

2. Calculate a new balance for item S-68 chair on the partial finished goods ledger card.