Exercise 2-2a (b)

Problem 2-2A (Part Level Submission) For the year ended December 31, 2017, the job cost sheets of Cinta Company contained the following data Direct Manufacturing Total Job Number $31,250 $30,000 $36,000 $97,250 7640 Balance 1/1 cument year's costs 37,500 45,000 54,000 136,500 Balance 1/1 7641 13,750 22,500 27,000 63,250 53,750 60,000 cument Year's costs 72,000 185,750 7642 Cument year's costs 2,500 68,750 82,500 223,750 Other data: 1. Raw materials inventory totaled $18,750 on January 1. During the year, $175,000 of raw materials were purchased on account 2. Finished goods on January 1 consisted of Job No. 7638 for $108,750 and Job No. 7639 for $115,000. 3. Job No. 7640 and Job No. 7641 were completed during the year. ob Nos, 7638, 7639, and 7641 were sold on account for $662,500 5, Manufacturing overhead incumed on account totaled $150,000. 6. Other manufacturing overhead consisted of indirect matenals $17,500, indirect labor $22,500, and depreciation on factory machinery $10,000 a)