Homework: Chapter 20 Question 2 of 2 For the year ended December 31, 2022, the job cost sheets of Sheridan Company contained the following data Job Number Explanation Direct Materials Direct Labor Manufacturing Overhead Total Costs 7640 Balance 1/1 $28.500 $27,360 $32.832 588692 Current year's costs 34.200 41,040 49.248 124488 7641 Balance 1/11 12540 20,520 246241 57,684 Current year's costs 49.000 54720 65.664 169,404 7642 Current year's costs 66.120 62.700 75240 204,060 36.11/50 E Other data 1 Raw materials inventory totaled $17.100 on January 1. During the year, $159.600 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $99,180 and Job No. 7639 for $104,880 3 Job No. 7640 and Job No.7641 were completed during the year. 7: Job Nos. 7638, 7639, and 7641 were sold on account for $604,200 Manufacturing overhead incurred on account totaled $136,800 Incurred depreciation on factory machinery $9.120 Assigned indirect materials of $15,960 and indirect labor of $20.520