For the year ended December 31, 2022, the job cost sheets of Crane Company contained the following data. Job Number Direct Materials Direct Labor Manufacturing Overhead Explanation Total Costs 7640 Balance 1/1 $26,000 $24,960 $29,952 $80,912 Current year's costs 31,200 37,440 44,928 113,568 7641 Balance 1/1 11,440 18,720 22,464 52,624 Current year's costs 44,720 49,920 59,904 154,544 7642 Current year's costs 60,320 57,200 68,640 186,160 Other data: 1. Raw materials inventory totaled $15,600 on January 1. During the year, $145,600 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $90,480 and Job No.7639 for $95,680. 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 $551,200. 5. Manufacturing overhead incurred on account totaled $124,800. 6. Incurred depreciation on factory machinery $8,320. 7. Assigned indirect materials of $14,560 and indirect labor of $18,720. 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 $ uestion 2 of 2 - / Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to Cost of Goods Sold. (L 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 e Textbook and Media List of Accounts Save for Later Attempts: 0 of 2 used Submit Ansv (c). CRANE COMPANY Income Statement (partial) $ $