The Ryde and Rowe Inc. had the following account balances as of January 1: $ 8,700 76,500 Direct Materials Inventory Work in Process Inventory Finished Goods Inventory Manufacturing Overhead 53,000 During the month of January, all of the following occurred: 1. Direct labor costs were $48,000 for 1,800 hours worked. Direct materials costing $25,000 and indirect materials costing $4,300 were purchased. 3. Sales commissions of $16,000 were earned by the sales force. 4. $21,000 worth of direct materials were used in production. 5. Advertising costs of $6,300 were incurred. 6. Factory supervisors earned salaries of $11,659. 7. Indirect labor costs for the month were $3,000. 8. Monthly depreciation on factory equipment was $4,500. 9. Utilities expense of $6,962 was incurred in the factory. 10. Equipment with manufacturing costs of $69,000 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. Equipment with manufacturing costs of $88,462 were sold for $160,840. Instructions a. Assume If Ryde and Rowe 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? $ 12,700 Direct materials inventory Work in process inventory Finished goods inventory b. As of January 31, what will be the balance in the Manufacturing Overhead account after the application of the overhead from part a? Manufacturing overhead c. What was Ryde and Rowe's operating income for January? Operating income