Job Number Direct Materials Direct Labor Manufacturing Overhead Total Costs Explanation 7640 Balance 1/1 $ 29,000 $ 27,840 $ 33,408 $ 90,248 Current year's costs 34,800 41,760 50,112 126,672 7641 Balance 1/1 12.760 20,880 25,056 58,696 Current year's costs 49,880 55,680 66.816 172,376 7642 Current year's costs 67,280 63,800 76,560 207,640 Other data: 1. Raw materials inventory totaled $ 17,400 on January 1. During the year, $ 162,400 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No.7638 for $ 100,920 and Job No. 7639 for $ 106,720. 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 $614,800. 5. Manufacturing overhead incurred on account totaled $ 139,200. 6. Other manufacturing overhead consisted of indirect materials $ 16,240, indirect labor $ 20,880, and depreciation on factory machinery $ 9,280. X Your answer is incorrect. Determine the gross profit to be reported for 2020. Gross profit 606912