Question 29 Jensen Manufacturing Company makes specialty tools. In January, Jensen 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 $1 for every $2 of direct labor costs incurred Inventory balances were: January 1 January 31 Raw materials $300,000 $500,000 Work in process 600,000 400,000 Finished goods 400,000 200,000 M. the end of January, there was $1,000 of overapplied overhead. Determine the cost of raw materials purchased in January Raw materials purchases gnment NOW TOLCI I purchasCS s Prepare a cost of goods manufactured schedule for January 2019. JENSEN MANUFACTURING COMPANY Cost of Goods Manufactured Schedule For the Month Ended January 31, 2019 $ Compute the cost of goods sold for January. Cost of goods sold $ Click if you would like to Show Work for this question: Open Show Work