For the year ended December 31, 2022, the job cost sheets of Cullumber Company contained the following data. Job Number Direct Materials Direct Labor Manufacturing Overhead Total Costs Explanation 7640 Balance 1/1 $21,000 $20,160 $24,192 $65,352 Current year's costs 25,200 30,240 36,288 91,728 7641 Balance 1/1 9,240 15,120 18,144 42,504 Current year's costs 36,120 40,320 48,384 124,824 7642 Current year's costs 48,720 46,200 55,440 150,360 Other data: 1. Raw materials inventory totaled $12,600 on January 1. During the year, $117,600 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $73,080 and Job No. 7639 for $77,280. 3. Job No. 7640 and Job No.7641 were completed during the year. 4. Job Nos. 7638,7639, and 7641 were sold on account for $445,200. 5. Manufacturing overhead incurred on account totaled $100,800. 6. Incurred depreciation on factory machinery $6,720. 7. Assigned indirect materials of $11,760 and indirect labor of $15,120. (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 Balance Direct Labor Manufacturing Overhead > > 12/31 Balance Work in process balance $ to Unfinished job No. 7642 $ Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to Cost of Goods Sold. (List all debit entries before credit entries. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Manufacturing Overhead Cost of Goods Sold Prepare an income statement through gross profit for 2022. CULLUMBER COMPANY Income Statement (partial) For the Month Ended December 31, 2022 $ vi $ > v: $