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Sebeka Company report the following information pertaining to the month of January Material Inventory: Ending balance: $150,000 Beginning Balance: $45,000 Work in Processs Inventory: Ending

Sebeka Company report the following information pertaining to the month of January

Material Inventory:

Ending balance: $150,000

Beginning Balance: $45,000

Work in Processs Inventory: Ending balance: $30,000

Beginning Balance:70,000

Finished Goods Inventory:

Ending Balance: $50,000

Beginning Balance: $40,000

During January, the company purchased $60,000 of direct materials and incurred $80,000 of direct labor costs. Total manufacturing overhead costs for the month amounted to $25,000. Selling and administrative expenses amounted to $100,000 and the company's January sales amounted to $500,000.

A. Prepare Sebeka's schedule of the cost of finished goods manufactured.

B. Prepare Sebekas Income statement (ignore income taxes)

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