For the year ended December 31, 2022, the job cost sheets of Ivanhoe Company contained the following data. Job Number Direct Direct Explanation Materials Labor Manufacturing Overhead Total Costs 7640 Balance 1/1 $27,000 $25,920 $31,104 $84,024 Current year's costs 32,400 38,880 46.656 117,936 7641 Balance 1/1 11,880 19,440 23,328 54,648 Current year's costs 46,440 51,840 62,208 160.488 7642 Current year's costs 62,640 59,400 71,280 193,320 Other data: 1. Raw materials inventory totaled $16,200 on January 1. During the year, $151,200 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $93,960 and Job No. 7639 for $99,360. 3. Job No. 7640 and Job No. 7641 were completed during the year. 4. 5. 6. 7. Job Nos. 7638, 7639, and 7641 were sold on account for $572,400. Manufacturing overhead incurred on account totaled $129,600. Incurred depreciation on factory machinery $8,640. Assigned indirect materials of $15.120 and indirect labor of $19.440.