The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors: a. Purchased $288,000 of materials. b. Used $207,360 of direct materials in production: c. Incurred $518,400 of direct labor wages. d. Incurred $207,400 of factory overhead. e. Transferred $875,500 of work in process to finished goods. f. Sold goods for $1,382,400. 9. Sold goods with a cost of $777,600. h. Incurred $247,700 of selling expense. i. Incurred $144,000 of administrative expense. This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Open spreadsheet Using the information given, complete the following: a. Prepare the January income statement for Sorensen Manufacturing Company. Round your answers to the nearest dollar. Sorensen Manufacturing Company Income Statement For the Month Ended January 31 The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors Select the corresponding accounts in the dropdowns in cells B21,B23, B25.B26, B28. Using formulas and cell references, perform the required analysis, and input your answers into the green cells in the C and D columns. Transfer the numeric results for the green entry cells (D21 D23, C25 C26, D27:D28, C31:C33) into the appropriate fields in CNOWV2 for grading Sorensen Manulacturing Cornpany Income Statement For the Month Ended January 31 Formulas a. Operating expenses: Tolal operating expenses Inventory balances on January 31: b Materials Work in process Finished goods. b. Determine the inventory balances at the end of the first month of operations. Round your answers to the nearest dollar. The following is a list of costs incurred by several manufacturing companiles: Classify each of the following costs as product cost or period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a sellino expense or an administrative expense: h. Depredation of office building i. Depredation of robotic equipment used to assemble a product j. Electricity used to operate factory machinery k. Factory janitorial supplies I. Fees charged by collection agency on past-due customer accounts m. Fees paid to lawn service for office grounds n. Maintenance costs for factory equipment o. Oal lubricants for factory plant and equipment p. Pens, paper, and other supplies used by the Accounting Department q. Repair costs for factory equipment r. Rent for a warehouse used to store work in process and finished produ 5. Salary of a physical therapist who treats plant employees t. Salary of the manager of a manufacturing plant u. Telephone charges by corporate office v. Travel costs of marketing executives to annual sales meeting w. Wages of a machine operator on the production line x. Wages of production quality control personnel Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. Cost data for Johretone Manutacturing Compary lor the month ended March 31 are as follows Select the corresponding accounts in the dropdowns in cels B25,B28 B33, B35 B40, B44 Using lormulas and cel references, perlorm the requared analysis, and ingot your answers nto the geen cells in the C, D, and E columos Transter the frumenc results for the gieen entry cells (E26, C28 C31, D92 D93, C35 C40, D41, E42 E45, C47) into the approprate felds in CNOW2 tor grading Cost of goods sold for March a. Prepare a cost of goods manufactured statement for March. Round your answers to the neares doilar: Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Direct materials: Factory overhead: Total factory overhead Total manufacturing costs incurred during March Check My Work Previous b. Determine the cost of goods sold for March. Round your answer to the nearest dollar