Jason Manufacturing Company makes specialty tools. In January, Jason incurs manufacturing costs of $13,000,000 for direct materials, direct labor, and overhead. 20% of the total costs represents overhead applied. The overhead rate is S1 for every $2 of direct labor costs incurred. Inventory balances were: January 1 January 31 $300,000 $500,000 Raw materials Work in process 600,000 400,000 Finished goods 400,000 200,000 At the end of January, there was $1,000 of overapplied overhead. Instructions (a) Determine the cost of raw materials purchased in January. (10 Marks) (10 Marks) (b) Prepare a cost of goods manufactured schedule for January 2017. (c) Compute the cost of goods sold for January