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For the year ended December 31, 2022, the job cost sheets of Crane Company contained the following data. Job Number Explanation Direct Materials Direct Labor Manufacturing Overhead Total Costs 7640 Balance 1/1 $31,500 $30,240 $36,288 $98,028 Current years costs 37,800 45,360 54,432 137,592 7641 Balance 1/1 13,860 22,680 27,216 63,756 Current years costs 54,180 60,480 72,576 187,236 7642 Current years costs 73,080 69,300 83,160 225,540 Other data: 1. Raw materials inventory totaled $18,900 on January 1. During the year, $176,400 of raw materials were purchased on account. 2. Finished goods on January 1 consisted of Job No. 7638 for $109,620 and Job No. 7639 for $115,920. 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 $667,800. 5. Manufacturing overhead incurred on account totaled $151,200. 6. Incurred depreciation on factory machinery $10,080. 7. Assigned indirect materials of $17,640 and indirect labor of $22,680. (a) (b) (c) Prepare an income statement through gross profit for 2022. CRANE COMPANY Income Statement (partial) choose the accounting period For the Year Ended December 31, 2022 select an income statement item Sales Revenue $enter a dollar amount select an opening section name select between addition and deduction : select an income statement item $enter a dollar amount select an income statement item enter a dollar amount select an income statement item enter a dollar amount enter a subtotal of the three previous amounts select between addition and deduction : select an income statement item enter a dollar amount enter a total amount for this section select a closing name for this statement $enter a total amount for this statement eTextbook and Media List of Accounts Attempts: 0 of 2 used

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