If Lind assigns manufacturing overhead of $34,400, what will be the balances I’m the Direct Materials, Work in Process, and Finished Goods Inventory accounts at the end of January?As of January 31, what will be the balance in the Manufacturing Overhead account? What was Lind's operating income for January? The image contains a set of financial data and a table related to manufacturing costs and inventory balances for the month of January. Below is the transcription of the text:1. Completed units with manufacturing costs of $95,912 were sold for $174,385.11. Monthly insurance costs for the factory were $4,200.12. Monthly property taxes on the factory of $5,000 were incurred and paid.13. Units with manufacturing costs of $95,912 were sold for $174,385.**Required:**a. If Lind 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?b. As of January 31, what will be the balance in the Manufacturing Overhead account?c. What was Lind’s operating income for January?**Table Details:**- **a. Inventory Balances** - Direct materials inventory: $29,000 - Work in process inventory: [Blank] - Finished goods inventory: [Blank]- **b. Manufacturing Overhead** - $34,400- **c. Operating Income** - [Blank]This table is used to determine and document the balances for different inventory accounts after assigning manufacturing overhead costs. The operating income for January is also to be calculated. **Exercise 16.6 (Algo) Flow of Costs through Manufacturing Accounts (LO16-3, LO16-4, LO16-5)**Lind Manufacturing 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 $40,000 for 1,800 hours worked.2. Direct materials costing $29,000 and indirect materials costing $4,800 were purchased.3. Sales commissions of $16,000 were earned by the sales force.4. Direct materials of $24,000 were used in production.5. Miscellaneous selling and administrative costs of $6,300 were incurred.6. Factory supervisors earned salaries of $12,418.7. Other indirect labor costs for the month were $3,000.8. Monthly depreciation on factory equipment was $4,500.9. Monthly utilities expenses of $7,139 were incurred in the factory.10. Completed units with manufacturing costs of $60,000 were transferred to finished goods.11. Monthly insurance costs for the factory were $4,200.12. Monthly property taxes on the factory of $5,000 were incurred and paid.13. Units with manufacturing costs of $95,912 were sold for $174,385.**Explanation:**This exercise outlines the flow of manufacturing costs through a company’s accounting system, highlighting direct and indirect costs, labor expenses, overhead, and sales activities. It provides insight into both the structure of manufacturing accounts and the specific financial activities occurring in a typical month. Understanding each of these components is crucial for accurate accounting and financial planning in a manufacturing setting.

Name: If Lind assigns manufacturing overhead of $34,400, what will be the ba
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Description: If Lind assigns manufacturing overhead of $34,400, what will be the balances I’m the Direct Materials, Work in Process, and Finished Goods Inventory accounts at the end of January?As of January 31, what will be the balance in the Manufacturing Overhe