he Ryde and Rowe Inc. had the following account balances as of January 1: Direct Materials Inventory $ 8,700 Work in Process Inventory 76,500 Finished Goods Inventory 53,000 Manufacturing Overhead 0 During the month of January, all of the following occurred: 1.Direct labor costs were $44,000 for 1,800 hours worked. 2.Direct materials costing $29,000 and indirect materials costing $5,000 were purchased. 3.Sales commissions of $16,500 were earned by the sales force. 4.$22,000 worth of direct materials were used in production. 5.Advertising costs of $6,300 were incurred. 6.Factory supervisors earned salaries of $10,645. 7.Indirect labor costs for the month were $3,000. 8.Monthly depreciation on factory equipment was $4,500. 9.Utilities expense of $5,372 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 $88,427 were sold for $160,777.
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? Direct Materials Inventory ________ Work In Process Inventory ________ Finished Goods Inventory _________
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