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For the year ended December 31, 2022, the job cost sheets of Blossom Company contained...

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Accounting

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For the year ended December 31, 2022, the job cost sheets of Blossom Company contained the following data. Job Number Direct Materials Direct Labor Manufacturing Overhead Total Costs Explanation 7640 Balance 1/1 $25,500 $24.480 $29,376 $79.356 30,600 36,720 44,064 111,384 Current year's costs Balance 1/1 7641 11,220 18,360 22,032 51,612 Current year's costs 43,860 48.960 58,752 151,572 7642 59,160 Current year's costs 56,100 182.580 67.320 Other data: 1. Raw materials inventory totaled $15.300 on January 1. During the year. $142,800 of raw materials were purchased on account. Finished goods on January 1 consisted of Job No. 7638 for $88,740 and Job No. 7639 for $93,840. Job No. 7640 and Job No. 7641 were completed during the year. 2. 3. 4. Job Nos. 7638.7639 and 7641 were sold on account for $540,600. 5. Manufacturing overhead incurred on account totaled $122,400. 6. Incurred depreciation on factory machinery $8,160. 7. Assigned indirect materials of $14.280 and indirect labor of $18,360. (c) Prepare an income statement through gross profit for 2022. BLOSSOM COMPANY Income Statement (partial) Sales Revenue Less Job 7638 C Job 7639 Job 7641 Add V $

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