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	148,000
Ending work-in-process inventory (70% complete)	12,000

Costs incurred in January follow.

Materials	$	182,800
Labor		31,000
Manufacturing overhead		75,000

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.)

Required: . Compute cost of goods sold for January. (Do not round intermediate calculations.) D. What is the value of work-in-process inventory on January 31? (Do not round intermediate calculations.) Required: . Compute cost of goods sold for January. (Do not round intermediate calculations.) D. What is the value of work-in-process inventory on January 31? (Do not round intermediate calculations.)