Case 1 2 $10,100 Direct materials used Direct labor Manufacturing overhead Total manufacturing costs Beginning work in process inventory 5,380 8,580 (9) 8,270 4,210 (a) 16,110 1,950 (h) (b) 3,160 25,860 2,870 18,050 (i) 2,060 22,610 Ending work in process inventory Sales revenue Sales discounts Cost of goods manufactured Beginning finished goods inventory Goods available for sale Cost of goods sold Ending finished goods inventory Gross profit 4,310 22,450 6) (d) 4,280 3,580 (e) 7,550 Operating expenses 2,900 Net income (f) 5,780 For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following data. Job Number Direct Materials Direct Labor Total Costs 7640 Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs $30,500 36,600 13,420 52,460 70,760 7641 Manufacturing Overhead $35,136 52,704 26,352 70,272 80,520 $29,280 43,920 21,960 58,560 67,100 $94,916 133,224 61,732 181,292 218,380 7642 Other data: 1. 2. 3. Raw materials inventory totaled $18,300 on January 1. During the year, $170,800 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $106,140 and Job No. 7639 for $112,240. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638, 7639, and 7641 were sold on account for $646,600. Manufacturing overhead incurred on account totaled $146,400. Other manufacturing overhead consisted of indirect materials $17,080, indirect labor $21,960, and depreciation on factory machinery $9,760. 4. 5. 6. (a) Prove the agreement of Work in Process Inventory with job cost sheets pertaining to unfinished work. Post each to the T-account in the following order: (1) beginning balance, (2) direct materials, (3) direct labor, (4) manufacturing overhead, and (5) completed jobs. Work in Process Inventory 1/1 12/31 Work in process balance Unfinished job