The Bags and Luggage Company had the following account balances as of January 1: Direct Materials Inventory $ 9,200 Work in Process Inventory 78,400 Finished Goods Inventory 53,600 Manufacturing Overhead -0- During the month of January, all of the following occurred: 1. Direct labor costs were $42,000 for 1,800 hours worked. 2. Direct materials costing $35,750 and indirect materials costing $3,500 were purchased. 3. Sales commissions of $16,500 were earned by the sales force. 4. $26,000 worth of direct materials were used in production. 5. Advertising costs of $6,300 were incurred. 6. Factory supervisors earned salaries of $12,000. 7. Indirect labor costs for the month were $3,000. 8. Monthly depreciation on factory equipment was $4,500. 9. Utilities expense of $7,800 was incurred in the factory. 10. Luggage with manufacturing costs of $70,100 were transferred to finished goods. 11. Monthly insurance costs for the factory were $4,200. 12. $5,000 in property taxes on the factory were incurred and paid. 13. Luggage with manufacturing costs of $89,000 were sold for $145,000. a. Assume If Bags and Luggage assigns manufacturing overhead of $34,400, what will be the balances in the Direct Materials, Work in Process, and Finished Goods Inventory accounts at the end of January? (Input all amounts as positive values. Omit the "$" sign in your response.) How do you calculate "Work in process inventory"? How do you calculate "Finished goods inventory"? What was Bags and Luggage's operating income for January? (Input all amounts as positive values. Omit the "$" sign in your response.)