BUS 208 - Principles of Accounting II Homework Assignment 7 Chapter 18 Part 1: Cost data for Lewis Company for the month ended January 31 is as follows: Inventories January 1 January 31 Materials $ 165,000 $ 136,500 Work in process 338,000 285,500 Finished goods 710,000 755,000 Direct labor 2,503,000 Materials purchased during January 1,475,000 Factory overhead incurred during January: Indirect labor 125,000 Machinery depreciation 85,000 Heat, light and power 56,000 Supplies 18,400 Property taxes 11,000 Miscellaneous costs 35,600 a. Prepare a cost of goods manufactured statement for January. b. Determine the cost of goods sold for January. Part 2: Cost of goods manufactured $ 3,715,000 Selling expenses 435,000 Administrative expenses 286,000 Sales 5,145,000 Finished goods inventory, January 1 716,000 Finished goods inventory, January 31 623,000 The following information is available for Billy Adams Company for the month ending January 31: For the month ended January 31, determine Billy Adams' (a) cost of goods sold, (b) gros