For the year ended December 31, 2022, the job cost sheets of Wildhorse Company contained the following data. Job Number Explanation Direct Materials Direct Labor Manufacturing Overhead Total Costs 7640 Balance 1/1 $30,500 $29,280 $35,136 $94.916 Current year's costs 36,600 43,920 52.704 133,224 7641 Balance 1/1 13,420 21,960 26,352 61,732 Current year's costs 52.460 58,560 70,272 181,292 7642 Current year's costs 70.760 67.100 80,520 218,380 Other data: 1. w Raw materials inventory totaled $18,300 on January 1. During the year. $170,800 of raw materials were purchased on account Finished goods on January 1 consisted of Job No. 7638 for $106,140 and Job No. 7639 for $112.240. 2. 3. Job No.7640 and Job No. 7641 were completed during the year. 4. 4 Job Nos. 7638,7639 and 7641 were sold on account for $646,600. Manufacturing overhead incurred on account totaled $146,400. 5. 6. Incurred depreciation on factory machinery $9,760. 7. Assigned indirect materials of $17,080 and indirect labor of $21.960. 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 VA 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