Question 4 of Job Number 7640 Explanation Balance 1/1 Current year's costs Balance 1/1 Current year's costs Current year's costs Direct Materials $28,000 33,600 12,320 48,160 84,960 Direct Labor $26,880 40,320 20.160 53,760 61,600 Manufacturing Overhead $32,256 48,384 24.192 64,512 73.920 Total Costs $87.136 122304 56,672 166,432 200,480 7641 7642 1. Other data: Raw materials inventory totaled $16,800 on January 1. During the year $156,800 of raw materials were purchased on account 2 Finished goods on January 1 consisted of Job No 7638 for $97.440 and Job No.7639 for $103,040, 3. Job No. 7640 and Job No. 7641 were completed during the year 4 Job hos. 7638,7639 and 7641 were sold on account for $593,600, 5. Manufacturing overhead incurred on account totaled $131400 Other manufacturing overhead consisted of indirect materials $15,680, indirect labor $20,160, and depreciation on factory machinery $8.960 Prove the agreercent of Work In Process inventory with job cost sheets pertaining to unfinished work. Post each to the 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 143808 Completed Work 432544 Material 146720 -155680 Orector TH Manuten erhead 200400 Work in proces balance 2001400 Und job 200400 Prepare the adjusting entry for manufacturing owerhead, assuming the balance is allocated entirely to Cost of Goods Sold. fedit account title ar automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit