book Show Me How Oflice 365 Financial statements of a manufacturing firm The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digiti video monitori a. Purchased $264,000 of materials. b. Used $190,080 of direct materials in production C. Incurred $475,200 of direct labor wages. d. Incurred $190,100 of factory overhead. e. Transferred $802,600 of work in process to finished goods. f. Sold goods for $1,267,200. 9. Sold goods with a cost of $712,800. nincurred $227,000 of selling expense. 1. Incurred $132,000 of administrative expense. This information has been collected in the Microsoft Excel Online . Open the spreadsheet, perform the required analysis and out your answers in the most x 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 der Sorensen Manufacturing Company Income Statement For the Month Ended January 31 Sorensen Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses Total operating expenses b. Determine the inventory tance at the end of the first month of operation found your awer to the data Sorensen Manufacturing Company Inventory Balances For the Month Ended January 31 Inventory balances on January 31 Materials Work in process Finished goods MW c D Financial statements of a manufacturing firm G The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: 4 DATA 6 Materials purchased 5264.000 7 Direct materials used in production 190,080 8 Direct labor wages 475,200 9 Factory overhead 190, 100 10 Work in process transferred to finished goods 802.600 11 Sales revenue 1,267,200 12 Cost of goods sold 712,800 13 Selling expense 227,000 14 Administrative expense 132.000 15 Select the corresponding accounts in the dropdowns in cells B21:323.825-B26, B28. Using formulas and cel references perform the required analysis, and input your answers into the green cells in the Cand D columns Transfer the numeric 10 results for the green entry cels (021 023, C25.026, D27 D28, C31:C33) Into the appropriate fields in CNOW2 for grading 16 Sorensen Manufacturing Company 19 Income Statement 20 For the Month Ended January 31 Formulas 21 22 + Data Cuina Mode Autott Workbook Su home insort Draw Page Layout Formulas Data Review View Help Editing Arial 10 V BB AY y General $81 B21 D E F H Formulas BBB Sorensen Manufacturing Company 19 Income Statement 20 For the Month Ended January 31 21 a 22 23 24 Operating expenses 25 26 27 Total Operating expenses 28 29 30 Inventory balancos on January 31 31 b. Materials 32 Work in process Finished goods 34 35 36 37 38 39
