1. Lukes Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it produces.

	Gallons
Beginning inventory	0
Started in January	152,000
Ending work-in-process inventory (80% complete)	18,000

Materials	$	118,600
Labor		25,000
Manufacturing overhead		79,000

Costs incurred in January follow.

All production at Lukes is sold as it is produced (there are no finished goods inventories).

Required:

a. Compute cost of goods sold for January. (Do not round intermediate calculations.)

b. What is the value of work-in-process inventory on January 31? (Do not round intermediate calculations.)

a.	Cost of good sold for January:
b.	Work-in-process inventory on January 31