what is morrison net operating income for the month of january ?

Morrison Company uses a job-order costing system to assign manufacturing costs to jobs. Its balance sheet on January 1 is as follows: $ 43,950 Morrison Company Balance Sheet January 1 Assets Cash Raw materials Work in proceso Finished goods Prepaid expenses Property, plant, and equipment (net) Total assets Liabilities and Stockholders' Equity Accounts payable Retained earnings Total liabilities and stockholders' equity $15,200 6,100 24,000 45,300 3,125 158,000 5.250,375 $ 7.300 24), 075 $ 250,375 During January the company completed the following transactions: a. Purchased raw materials on account. $83,200, b. Raw materials used in production, $96,700 ($80,200 was direct materials and $16,500 was indirect materials). c. Pald $173,600 of salaries and wages in cash ($96,200 was direct labor. $38,850 was indirect labot, and $38,650 was related to employees responsible for selling and administration) d. Various manufacturing overhead costs incurred (on account to support production, $45,900 e Depreciation recorded on property, plant, and equipment, $77.200 (70% related to manufacturing equipment and 30% related to assets that support selling and administration) Various selling expenses pald in cash, $28,550. Prepaid insurance expired during the month. $1,950 (80% related to production, and 20% related to selling and administration) h. Manufacturing overhead applied to production, $139,000 Cost of goods manufactured, $293,500. Cash sales to customers, $400,600. k Cost of goods sold (unadjusted) $289.000 Cash payments to creditors. $81800, m. Underapplied or overapplied overhead_$? Prey 1 of 1 : Next