57 Raw 52 Work to Process Inventory 153 Finished Goods Inventory 172 Accumulated Depreclation Equipment 81 Building Accumulated Depreciation-Building 191 Land 201 Accounts Payable 211 Salaries Payable ax Payable Medicare Tax Payable 214 Federal income Tax Payable 215 Union Dues Payable tributions Payable 217 FUTA Tax Payable 218 SUTA Tax Payable 219 Unearned Revenue 221 Notes Payable-Short Term 231 Divid ends Payable-Preferred 232 Dividends Payable Comm 251 Notes Pava Buckeye Company reports the following information pertaining to its operating activities for the month of January (its first month of operations): 1) All Beginning Inventories Ending Materials Inventory $100,000 Ending WIP Inventory Ending Finished Goods Inventory $ 350,000 Direct Materials Purchased $650,000 Direct Labor Incurred Manufacturing Overhead Applied $150,000 Sales for month of January $750,000 General & Administrative Expenses $120,000 $50,000 $300,000 a. Prepare Buckeye's schedule of the cost of finished goods manufactured. b. Prepare Buckeye's Income Statement