Instructions Accounts, Labels and Amount Descriptions Income Statement Instructions 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 a Purchased $138,000 of materials. b. Used 893,540 of direct materials in production cincurred $182,560 of direct labor wagos dincurred S213,040 of factory overhead e Transferred $426,220 of work in process to finished goods 1. Sold goods for $660,000 0 Sold goods with a cost of $367.500 h incurred 586 200 of selling expense 1. Incurred $70.250 of administrative expense Instructions Income Statement a. Using the information given, prepare the January income statement for Technology Treasures Manufacturing Company Be sure to complete the statement heading. Refer to the sts of Accounts, Labels and Amount Descriptions list provided for me exact wording of the answer choices for text entre Colond) will mil in where needed. Enter amounts as positive numbers unless the amount is a calculation that results in a negative amount For example. Net toes should be negative. Expenses should be positive. Technology Treasures Manufacturing Company Income Statement (Labo) Instructions Income Statement Inventory Balances b. Using the information given, determine the Materials Inventory Work in Process Inventory, and finished Goods Inventory balances at the end of the first moet of operations Materials inventory S Work in process inventory 5 Finished goods inventory S