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Plzzz Lind Manufacturing had the following account balances as of January 1 Duting the month of January, all of the following occurred. 1. Direct labor
Plzzz
Lind Manufacturing had the following account balances as of January 1 Duting the month of January, all of the following occurred. 1. Direct labor costs were $43.000 for 1800 houre worked 2. Direct materials costing $25,000 and indirect moterials costing $4,800 were purchased 3. Sales commissions of $17,500 were earned by the sales force. 4 . Direct materials of $22,000 were used in production. 5. Miscellaneous seling and administrative costs of $6,300 were incurred 6. Factory supervisors earned salaries of $12,847 7. Indirect labor costs for the month were $3,000 8. Montily depreciation on factory equipment was $4,500 9. Monthiy utities expenses of $5,909 were incurred in the factory 10. Completed units with manufacturing costs of $69,000 were transferred to finished goods 11. Monthiy insurance costs for the factory were $4.200 12. Montiliy property roxes on the factory of $5,000 were incurred and paid 13. Units with manutacturing costs of $98,923 were told for $179,860 Required: a. If i ind assigns manufacturing ovethead of $34,400, what will be the balances in the Direct Materials, Work in Process, and Finished Goods Inventory accounts at the end of January? b. As of January 3i, what will be the balance in the Manufacturing Overhead account? c. What was Lind's operating income for January Step by Step Solution
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