Reference no: EM133044221
Question -Financial Statements of a Manufacturing Firm - The following events took place for Digital Vibe Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
Purchased $53,500 of materials
Used $41,200 of direct materials in production.
Incurred $61,500 of direct labor wages.
Incurred $86,700 of factory overhead.
Transferred $143,900 of work in process to finished goods.
Sold goods for $257,300.
Sold goods with a cost of $114,500.
Incurred $65,800 of selling expenses.
Incurred $28,900 of administrative expense.
Using the information given, complete the following: Prepare the January income statement for Digital Vibe Manufacturing Company.
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