Problem 15-2A (Part Level Submission)

For the year ended December 31, 2014, the job cost sheets of Cinta Company contained the following data.

Job Number		Explanation		Direct Materials		Direct Labor		Manufacturing Overhead		Total Costs
7640		Balance 1/1		$31,750		$30,480		$36,576		$98,806
		Current years costs		38,100		45,720		54,864		138,684
7641		Balance 1/1		13,970		22,860		27,432		64,262
		Current years costs		54,610		60,960		73,152		188,722
7642		Current years costs		73,660		69,850		83,820		227,330

Other data:

1.		Raw materials inventory totaled $19,050 on January 1. During the year, $177,800 of raw materials were purchased on account.
2.		Finished goods on January 1 consisted of Job No. 7638 for $110,490 and Job No. 7639 for $116,840.
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 $673,100.
5.		Manufacturing overhead incurred on account totaled $152,400.
6.		Other manufacturing overhead consisted of indirect materials $17,780, indirect labor $22,860, and depreciation on factory machinery $10,160.

(a)

Prove the agreement of Work in Process Inventory with job cost sheets pertaining to unfinished work. (Hint: Use a single T-account for Work in Process Inventory.) Calculate each of the following, then post each to the T-account: (1) beginning balance, (2) direct materials, (3) direct labor, (4) manufacturing overhead, and (5) completed jobs.

Work in Process Inventory

1/1	Balance
	Direct materials
	Direct labor
	Manufacturing overhead
12/31	Balance

	Completed work

Work in process balance		$
Unfinished job No. 7638No. 7639No. 7640No. 7641No. 7642		$