Ending Inventory:

Raw Materials (includes $400 for indirect materials) - $5400

Work in process inventory- $4500

Finished goods inventory- $5000

Heir Manufacturers is a manufacturer. Heir selected account balances for the company as of January 1,2022, were as follows: View the selected beginning account balances. During the month of January, Heir Manufacturers had the following transactions: On January 31, 2022, the respective inventory balances were as follows: Selected Beginning Balances View the ending inventory account balances. Manutacturing Uverhead account has been entered tor you. Transactions - Salaries: $6,800. Of this amount, $2,100 is selling and administrative; the rest is for production as follows: $2,700 for direct labor, $2,000 for indirect labor. - Prepaid rent expired (was used up): $1,820 relates to factory rent, $780 is administrative. - Depreciation: $1,000;$900 relates to the machinery in the factory. - Purchases of raw materials on credit: $13,000; includes $11,000 for direct materials and $2,000 for indirect materials. - Sales of finished goods for the month, all on credit: $39,800. - Payment of accounts payable: $11,000. - Collection of accounts receivable: $43,800. - Issued to production: $12,100; includes $10,500 for direct materials and $1,600 for indirect materials. - Transferred to finished goods: the completed units. - Recorded the sales and the cost of goods sold. Requirements a. Use the T-accounts to trace the cost flow. b. Prepare an income statement for the month of January 2022 , as well as a cost of goods manufactured schedule