Instructions
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.
$179,000; Job 7642: $179,000
b. Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to Cost of Goods Sold.
Amount = $6,800
c. Determine the gross profit to be reported for 2020.
$158,600
P2.2A (LO 1, 2, 3, 4, 5), AP For the year ended December 31, 2020, the job cost sheets of Cinta Company contained the following data.
Prepare entries in a job order cost system and partial income statement.
Job Number
Total Costs
7640
Explanation
Balance 1/1
Current year’s costs
Balance 1/1
Current year’s costs
Current year’s costs
Direct Materials
$25,000
30,000
11,000
43,000
58,000
Direct Labor
$24,000
36,000
18,000
48,000
55,000
Manufacturing Overhead
$28,800
43,200
21,600
57,600
66,000
7641
$ 77,800
109,200
50,600
148,600
179,000
7642
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.

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