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

 
   

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Job
  Number

 Explanation

Direct
Materials

Direct
  Labor

Manufacturing
  Overhead

Total
  Costs

 

7640

Balance 1/1

$25,000

$24,000

$28,800

$77,800

   

Current year�s costs

30,000

36,000

43,200

109,200

 

7641

Balance 1/1

11,000

18,000

21,600

50,600

   

Current year�s costs

43,000

48,000

57,600

148,600

 

7642

Current year�s costs

58,000

55,000

66,000

179,000

 Other data:

  

1.

Raw materials inventory totaled $15,000   on January 1. During the year, $140,000 of raw materials were purchased on   account.

 

2.

Finished goods on January 1 consisted of   Job No. 7638 for $87,000 and Job No. 7639 for $92,000.

 

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 $530,000.

 

5.

Manufacturing overhead incurred on   account totaled $120,000.

 

6.

Other manufacturing overhead consisted   of indirect materials $14,000, indirect labor $18,000, and depreciation on   factory machinery $8,000.

 
 

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.