This exam consists of one problem. This exam is open book and is due next Monday, 3/14/22, in class. Please read everything carefully and ask if you have questions. Leave a trail if you want partial credit Good luck. WHAT WA ARE DON PI STUDENG FOR RANG OHNE Telf WHETHER YOU CAN OMESTA SOK WHY DO MOM DO HERUM TRE Afor La Psaki, Inc, makes and sells Fakes. Manufacturing Overhead is applied based on Direct Labor (DL) Hours incurred. Expected DL Hours for January 2022 - 1,900 DL Hours Expected Overhead for January 2022 - S146,300 Beginning and ending inventory balances for January Materials Inventory WIP Finished Palon Inventory 1/1/22 $15,000 552.000 $25,000 1/31/22 13.000 55.000 19.000 During January of 2022: Psaki, Inc. purchased $53,000 of Materials Incurred 848,025 of Direct Labor (1,921 DL Hours @ $25 per DL Hour) Incurred Manufacturing Overhead totaling S148,350 Required: What is Cost of Goods Manufactured for January 2022? What is Cost of Goods Sold for January 2022 before closing any over/under applied overhead to COGS? What is COGS if any over/under applied overhead is closed to COGS? What is Psaki, Inc.'s January gross profit if they sold the finished Fakes for $300.000