Finandal statements of a manufacturing firm

The following events took place for Serensen Manufacturing Company during January, the first month of its operations as a producer of digltal video monitors:

a$.$ Purchased $$269,000$ of materials.

b$.$ Used $$193,680$ of direct materials in production.

c$.$ Incurred $$484,200$ of direct labor wapes.

d$.$ Incurred $$193,700$ of factery overhead.

e$.$ Transferred $$817,800$ of work in process to finished goods,

Sold goods for $$1,291,200.$

g$.$ Sold goods with a cost of $$726,300.$

h$.$ Incurred $$231,300$ of selling expense.

I. Incurred $$134,500$ of administrative expense.

This informatien has been collected in the Microsolt Excel Online file, Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Using the informatisn given, complete the following:

a$.$ Frepare the January income statement for Sorensen Manufacturing Company. Round your answers to the nearest dollar.

Sorensen Manufacturing Company

Income Statement

For the Month Ended Janeary $31$

Using the information glven, complete the following:

a$.$ Arepare the January income statement for Sorensen Manulacturing Company. Round your answers to the noarest dollar.

Sorensen Manufacturing Company

Income Statement

For the Month Ended January $31$

b$.$ Determine the inventory balances at the end of the first month of operations. Round your answers to the nearest dollar.

Sorensen Manufacturino Company

Inventory Balances

For the Month Ended January $31$

Inventery balances on January $31$:

Materials

For the Month Ended January $31$

b$.$ Determine the inventory balances at the end of the first month of operations. Round your answers to the nearest dollar.

Sorensen Manufacturing Company

Inventory Balances

For the Month Ended January $31$

Inventory balances on January $31$ :

Materials

Work in process

Finished goods

$1$ Finascial statements of a masafacturing firm

$2$

$3$

The following events took place for Sorensen Mamufacturing Company during Jantary, the first month of its operations as a producer of digital video monitors:

DATA

$3$

$6$

$7$

$8$

$9$ Factory ourbead

$9$ Factory cremead

$\backslash$table$[[10,$Werk in procesa tranaferred to finished goods,$817,800],[11,$Sales revenue,$1,291,200$