Job Number Direct Materials Direct Labor Total Costs 7640 Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs $27,000 32,400 11,880 46,440 62,640 7641 Manufacturing Overhend $31,104 46,656 23,328 62,200 71,280 $25,920 38,880 19,440 51,840 59,400 $84,024 117,936 54,648 160,488 193,320 7642 other data: 1. 2. 3. 4. 5. 6. Raw materials inventory totaled $16,200 on January 1. During the year, $151,200 of raw materials were purchased on account Finished goods on January 1 consisted of Job No. 7638 for $93,960 and Job No. 7639 for $99,360. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638, 7639, and 7641 were sold on account for $572,400. Manufacturing overhead incurred on account totaled $129,600. Other manufacturing overhead consisted of indirect materials $15,120, indirect labor $19,440, and depreciation on factory machinery Your answer is partially correct. Try again. Prove the agreement of Work In Process Inventory with job cost sheets pertaining to unfinished work. Post each to the T-account in the foll Work in Process Inventory 138672 Idol purchased on account of Job No. 7638 for $93,960 and Job No. 7639 for $99,360. Job No. 7640 and Job No. 7641 were completed during the year. Job Nos. 7638, 7639, and 7641 were sold on account for $572,400. Manufacturing overhead incurred on account totaled $129,600. Other manufacturing overhead consisted of indirect materials $15,120, indirect labor $19,440, and depreciation on factory mad 4. 5. 6. Your answer is partially correct. Try again. Prove the agreement of Work in Process Inventory with job cost sheets pertaining to unfinished work. Post each to the T-account in Work in Process Inventory 1/1 Balance 138672 Completed Work Direct Materials * Director Manufacturing Over 12/31 Balance Work in process balance OL Unfinished job X] Your answer is incorrect. Try again. Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to cost of Goods Sold. (Credit neco Account Titles and Explanation Debat Credit LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Ex Your answer is incorrect. Try again. Determine the gross profit to be reported for 2020. Gross profit