For the year ended December 31, 2020, the job cost sheets of Onta Company contained the following data Job Number Direct Materials Direct Labor 7640 Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs $29,250 35,100 12,870 50,310 67.860 Manufacturing Overhead $33.000 50,544 25.272 67,292 77,220 $28.080 42,120 21,060 56,160 64,350 7641 Total Costs $91,026 127,764 59,202 173,862 209,430 7642 Other data: 1. 2. 3. 4. 5. 6. Raw materials inventory totaled $17,550 on January 1. During the year. $163,800 of raw materials were purchased Finished goods on January 1 consisted of Job No. 7638 for $101,790 and Job No. 7639 for $107,640. Job No. 7640 and Job No. 7641 were completed during the year Job Nos. 7638, 7639, and 7641 were sold on account for 5620,100. Manufacturing overhead incurred on account totaled $140,400. Other manufacturing overhead consisted of indirect materials $16,350, indirect labor $21.060, and deprec Prove the agreement of Work in Process Inventory with job cost sheets pertaining to unfinished work order: (1) beginning balance, (2) direct materials, (3) direct labor. 14 manufacturing overhead, and (3) completed Joos. Work in Process Inventory 1 Direct Labor Manufacturing Overhead Balance Direct Materials Completed Work 12/31 Work in process balance wished job Activate Windows W LIST OF ACCOUNTS ay) antennanufacturing overhead, assuming the balance is allocated entirely to cost of Good Sold (Chelt account titles are automatically indented when amoris entered the moment w AB de WMF Work in Process Invent Direct Labor Manufacturing Overhead Balance Direct Materials Completed Work 12/31 Work in process balance Unfinished job Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to Cost of Goods Sold. (Credit account titles are automatically indented when amount is entered. Do not indent manually) Account Titles and Explanation Debit Credit Determine the gross profit to be reported for 2020 Gross profit Click if you would like to show Work for this question Open Show Wod SHOW USTO ACCENT Question Attempts: Unlimited