For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following data. Job Number 7640 Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials $30,000 36,000 13,200 51,600 69,600 Direct Labor $28,800 43,200 21,600 57,600 66,000 Manufacturing Overhead $34,560 51,840 25.920 69,120 79,200 Total Costs $93,360 131,040 60.720 178,320 214,800 7641 7642 Other data: 1. 2. 3. Raw materials inventory totaled $18,000 on January 1. During the year. $168,000 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $104,400 and Job No. 7639 for $110,400. Job No.7640 and Job No. 7641 were completed during the year. Job Nos. 7638,7639, and 7641 were sold on account for $636,000. Manufacturing overhead incurred on account totaled $144,000. Other manufacturing overhead consisted of indirect materials $16,800, indirect labor $21,600, and depreciation on factory machinery $9,600. 4. 5. 6. 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 e Textbook No. 7638 No. 7639 No. 76-40 No. 7641 No. 7642 List of Acco Wor 1/1 Manufacturing Overhead Direct Labor Direct Materials Balance Completed Work 12/31