Question 9 For the year ended December 31, 2020, the job cost sheets of DeVoe Company contained the following data: Direct Materials Direct Labour Total Costs Job Number Explanation 7640 Balance 1/1 Current year's costs Balance 1/1 $25,100 30,500 11,800 43,600 48,300 7641 Manufacturing Overhead $28,900 43,900 22,100 57,900 66,800 $24,900 35,400 18,800 48,300 55,000 $78,900 109,800 52,700 149,800 170,100 Current year's costs Current year's costs 7642 Other data: 1. Raw materials inventory totalled $15,100 on January 1. During the year, $140,600 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $87,900 and Job No. 7639 for $92,500. 3. Job No. 7640 and Job No. 7641 were completed during the year. 4. Jobs 7638, 7639, and 7641 were sold on account for $530,900. 5. Manufacturing overhead incurred on account totalled $113,600. 6. Other manufacturing overhead consisted of indirect materials $13,000, indirect labour $19,600, and depreciation on factory machinery $7,700. Prove the agreement of Work in Process Inventory with job cost sheets pertaining to unfinished work. Calculate each of the following, then post each to the T account: (1) beginning balance, (2) direct materials, (3) direct labour, (4) manufacturing overhead, and (5) completed jobs. (Post entries in the order displayed in the problem statement.) 1. beginning balance $ 2. direct materials 5 3. direct labour $ 4. manufacturing overhead $ 5. completed jobs closing balance $ Work in Process Inventory 1/1 - - 12/31 LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to Cost of Goods Sold. (Credit account titles are automatically indented when the amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit LINK TO TEXT LINK TO TEXT LINK TO TEXT LINK TO TEXT Determine the gross profit to be reported for 2020. Gross Profit $