Problem 3-32A For the year ended December 31, 2016, the job cost sheets of DeVoe Company contained the following data:

Job Number	Explanation	Direct Materials	Direct Labour	Manufacturing Overhead	Total Costs
7640	Balance 1/1	$25,000	$25,000	$29,700	$79,700
Current years costs	31,000	36,000	44,000	111,000
7641	Balance 1/1	11,300	18,000	21,800	51,100
Current years costs	43,700	48,600	57,700	150,000
7642	Current years costs	48,000	55,700	66,800	170,500

Other data:

1.	Raw materials inventory totalled $15,700 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 $87,500 and Job No. 7639 for $92,100.
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 $531,000.
5.	Manufacturing overhead incurred on account totalled $118,700.
6.	Other manufacturing overhead consisted of indirect materials $13,900, indirect labour $20,000, and depreciation on factory machinery $7,900.

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Calculate each of the following for Work in Process Inventory, then post each to the T account: (Post entries in the order displayed in the problem statement.)

1.	beginning balance	$ 130,800
2.	direct materials	$ 159,000
3.	direct labour	$ 183,300
4.	manufacturing overhead	$ 170,500
5.	completed jobs	$
6.	closing balance	$

Work in Process Inventory

1/1

Direct labour Manufacturing overhead BalanceCompleted workDirect materials

Direct materials Direct labour BalanceManufacturing overhead Completed work

Direct labour Manufacturing overhead BalanceCompleted workDirect materials

Direct labour Completed workDirect materials Manufacturing overhead Balance

Manufacturing overhead Completed workDirect materials Direct labour Balance

Direct labour Manufacturing overhead Completed workBalanceDirect materials

Direct labour BalanceDirect materials Manufacturing overhead Completed work

Completed workDirect materials Direct labour Manufacturing overhead Balance

12/31

Completed workBalanceManufacturing overhead Direct materials Direct labour

Completed workBalanceDirect materials Direct labour Manufacturing overhead

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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

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Determine the gross profit to be reported for 2016.

Gross Profit

$