Exercise 16.6 Flow of Costs through Manufacturing Accounts (LO16-3, LO16-4, LO16-5)

The Ryde and Rowe Inc. had the following account balances as of January 1:

Direct Materials Inventory		$	8,700
Work in Process Inventory			76,500
Finished Goods Inventory			53,000
Manufacturing Overhead			0

During the month of January, all of the following occurred:

1.	Direct labor costs were $50,000 for 1,800 hours worked.
2.	Direct materials costing $28,000 and indirect materials costing $4,900 were purchased.
3.	Sales commissions of $17,500 were earned by the sales force.
4.	$22,000 worth of direct materials were used in production.
5.	Advertising costs of $6,300 were incurred.
6.	Factory supervisors earned salaries of $12,352.
7.	Indirect labor costs for the month were $3,000.
8.	Monthly depreciation on factory equipment was $4,500.
9.	Utilities expense of $7,118 was incurred in the factory.
10.	Equipment with manufacturing costs of $69,000 were transferred to finished goods.
11.	Monthly insurance costs for the factory were $4,200.
12.	$5,000 in property taxes on the factory were incurred and paid.
13.	Equipment with manufacturing costs of $95,626 were sold for $173,866.

Assume If Ryde and Rowe assigns manufacturing overhead of $34,400, what will be the balances in the Direct Materials, Work in Process, and Finished Goods Inventory accounts at the end of January