Financial Statements of a Manufacturing Firm The following events took place for Technology Treasures Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: 3. Purchased $46,300 of materials b. Used $35,700 of direct materials in production c. Incurred $53,200 of direct labor wages. d. Incurred $75,000 of factory overhead e Transferred $124,500 of work in process to finished goods. f. Sold goods for $222,700 9. Sold goods with a cost of $99,100. h Incurred $56,900 of selling expenses Incurred $25,000 of administrative expense Using the information given, complete the following: a. Prepare the January income statement for Technology Treasures Manufacturing Company Technology Treasures Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses: Total operating expenses b. Determine the Materials inventory, Work in Process Inventory, and Pinished Goods Inventory balance at the end of the first month of operations h. Incurred 556,900 of selling expenses Incurred $25,000 of administrative expense Using the information given, complete the following: a. Prepare the January income statement for Technology Treasures Manufacturing Company Technology Treasures Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses: Total operating expenses b. Determine the Materials Inventory, Work in Process Inventory, and finished Goods Inventory balances at the end of the first month of operations, Technology Treasures Manufacturing Company Inventory Balances For the Month Ended January 31 Inventory balances on January 311 Materials Work in process Finished goods