accounting 202

Financial statements of a manufacturing firm The following events took place for Sorensen Manufacturing Company during January, the first month of its operations digital video monitors: a. Purchased $256,000 of materials. b. Used $184,320 of direct materials in production. c. Incurred $460,800 of direct labor wages. d. Incurred $184,300 of factory overhead. e. Transferred $778,200 of work in process to finished goods. f. Sold goods for $1,228,800. g. Sold goods with a cost of $691,200. h. Incurred $220,200 of selling expense. 1. Incurred $128,000 of administrative expense. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required anal answers in the questions below. Open spreadsheet Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Round your answers to the nearest dollar. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 $ $ Operating expenses: $