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The following events took place for Sorensen Manufacturing Company during January, the first month of...

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Accounting

The following events took place for Sorensen Manufacturing Company during January, the first month of its operations as a producer of digital video monitors:
Purchased $61,300 of materials.
Used $47,200 of direct materials in production.
Incurred $70,500 of direct labor wages.
Incurred $99,300 of factory overhead.
Transferred $164,900 of work in process to finished goods.
Sold goods for $294,900.
Sold goods with a cost of $131,200.
Incurred $75,400 of selling expense.
Incurred $33,100 of administrative expense.
Using the information given, complete the following:
Question Content Area
a. Prepare the January income statement for Sorensen Manufacturing Company.

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