I need help finding the balance for the finished goods inventory.

Current Attempt In Progress Sheridan Company uses a job order cost system and applies overhead to production on the basis of direct labor costs. On January 1, 2020, Job 50 was the only job in process. The costs incurred prior to January 1 on this job were as fol lows: direct materials $23,600, direct labor $14,160, and manufacturing overhead $18,880. As of January 1, Job 49 had been completed at a cost of $106,200 and was part of nished goods inventory. There was a $1?,700 balance in the Raw Materials Inventory account. During the month of January, Sheridan Company began production on Jobs 51 and 52, and completed Jobs 50 and 51. Jobs 49 and 50 were also sold on account during the month for $143,960 and $186,440, respectively. The fol lowing additional events occurred during the month. 1. Purchased additional rawI materials of $106,200 on account. 2. Incurred factory labor costs of $82,600. Of this amount $18,380 related to employer payroll taxes. 3. Incurred manufacturing overhead costs as follows: indirect materials $20,060; indirect labor $23,600; depreciation expense on equipment $14,160; and various other manufacturing overhead costs on account $18,380. 4. Assigned direct materials and direct labor tojobs asfollows. Job No. Direct Materials Direct Labor 50 $11,300 $5,900 5 1 46,020 29,500 52 35,400 23,600 Prepare the journal entries to record (1) the purchase of raw materials, (2) the factory labor costs incurred, and (3) the manufacturing overhead costs incurred during the month of January. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Raw Materials Inventory 106,200 Accounts Payable 106,200 (2) Factory Labor 82,600 Factory Wages Payable 63,720 Employer Payroll Taxes Payable 18,880 (3) Manufacturing Overhead 76,700 Accounts Payable 18,880 Accumulated Depreciation-Equipment 14,160 Raw Materials Inventory 20,060 Factory Labor 23,600Your answer is correct. Open job cost sheets for Jobs 50, 51, and 52. Enter the January 1 balances on the job cost sheet for Job 50. Post all costs to the job cost sheets as necessary. Job No. 50 Date Direct Materials Direct Labor Manufacturing Overhead Beg. $ 23,600 14,160 18,880 Jan. 11,800 5,900 7080 $ 35,400 20,060 25960 Cost of completed job Direct materials 35,400 Direct labor 20,060 Manufacturing overhead 25,960 Total cost $ 81,420Job No. 51 Date Direct Materials Direct Labor Manufacturing Overhead Jan. $ 46,020 $ l 29,500 $ l 35,400 $ 46,020 $ l 29,500 $ l 35,400 Cost of completed job Direct materials $ 46,020 Direct labor 29,500 Man ufacturing overhead 3 5,400 Total cost $ 110,920 Job No. 52 Date Direct Mate rials Direct Labor Manufacturing Overhead Jan. $ 35,400 $ 23,600 $ 23,320 (e) V Your answer is correct. Prepare the journal entry to record the completion of any job(s) during the month. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) Account Titles and Explanation Debit Credit Finished Goods Inventory 192,340 Work in Process Inventory 192,340 eTextbook and Media List of AccountsYour answer is correct. Prepare the journal entries to record the sale of any job(s) during the month. (Credit account titles are automatically indented when amount is entered. Do not indent manually.) No. Account Titles and Explanation Debit Credit (1) Accounts Receivable 330400 Sales Revenue 330400 (To record sale of jobs) (2) Cost of Goods Sold 187620 Finished Goods Inventory 187620 (To record cost of jobs) eTextbook and Media(g) Your answer is partially correct. What is the balance in the Finished Goods Inventory account at the end of the month? What does this balance consist of? Finished Goods Inventory Job No. 51 eTextbook and Media List of Accounts Save for Later Attempts: unlimited Submit