еВookShow Me Howa. Prepare the January income statement for Digital Vibe Manufacturing Company.Digital Vibe Manufacturing CompanyIncome StatementFor the Month Ended January 31Operating expenses:Total operating expensesb. Determine the Materials Inventory, Work in Process Inventory, and Finished Goods Inventory balances at the end of the first month of operations.Digital Vibe Manufacturing CompanyInventory BalancesFor the Month Ended January 31Inventory balances on January 31:MaterialsWork in processFinished goodsPreviousCheck My WorkSubmit AssignmeSave and ExitAll work saved.79°F Cloudy nents- ACG20CengageNOWv2 | Online teachin xG The following events took plac-takeAssignment/takeAssignmentMain.do?invoker%3D&takeAssignmentSessionLocator3D&inprogress=falеВookShow Me HowFinancial Statements of a Manufacturing FirmThe following events took place for Digital Vibe Manufacturing Company during January, the firsa. Purchased $43,900 of materialsb. Used $33,800 of direct materials in production.c. Incurred $50,500 of direct labor wages.d. Incurred $71,100 of factory overhead.e. Transferred $118,100 of work in process to finished goods.f. Sold goods for $211,200.g. Sold goods with a cost of $93,900.h. Incurred $54,000 of selling expenses.i. Incurred $23,700 of administrative expense.Using the information given, complete the following:a. Prepare the January income statement for Digital Vibe Manufacturing Company.Digital Vibe Manufacturing CompanyIncome StatementFor the Month Ended January 31Operating expenses:Total operating expensesCheck My WorkAll work saved.

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Description: еВookShow Me Howa. Prepare the January income statement for Digital Vibe Manufacturing Company.Digital Vibe Manufacturing CompanyIncome StatementFor the Month Ended January 31Operating expenses:Total operating expensesb. Determine the Materials Inve

Gross = sales - cost of goods sold

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Financial Statements of a Manufacturing Firm The following events took place for Digital Vibe Manufacturing Company during January, the firs a. Purchased $43,900 of materials b. Used $33,800 of direct materials in production. c. Incurred $50,500 of direct labor wages. d. Incurred $71,100 of factory overhead. e. Transferred $118,100 of work in process to finished goods. f. Sold goods for $211,200. g. Sold goods with a cost of $93,900. h. Incurred $54,000 of selling expenses. i. Incurred $23,700 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Digital Vibe Manufacturing Company. Digital Vibe Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses:

Financial Statements of a Manufacturing Firm The following events took place for Digital Vibe Manufacturing Company during January, the firs a. Purchased $43,900 of materials b. Used $33,800 of direct materials in production. c. Incurred $50,500 of direct labor wages. d. Incurred $71,100 of factory overhead. e. Transferred $118,100 of work in process to finished goods. f. Sold goods for $211,200. g. Sold goods with a cost of $93,900. h. Incurred $54,000 of selling expenses. i. Incurred $23,700 of administrative expense. Using the information given, complete the following: a. Prepare the January income statement for Digital Vibe Manufacturing Company. Digital Vibe Manufacturing Company Income Statement For the Month Ended January 31 Operating expenses:

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

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I figured out the materials inventory, but how do I find the WIP and Finished goods inventory?
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