The Bags and Luggage Company had the following account balances as of January 1:

Question

The Bags and Luggage Company had the following account balances as of January 1:

Assume If Bags and Luggage assigns manufacturing overhead of $34,400, what will be the balances in the Direct Materials, Work in Process, and Finished Goods Inventory accounts at the end of January? (Input all amounts as positive values. Omit the "$" sign in your response.)

As of January 31, what will be the balance in the Manufacturing Overhead account? (Input all amounts as positive values.Omit the "$" sign in your response.)

What was Bags and Luggage's operating income for January? (Input all amounts as positive values. Omit the "$" sign in your response.)

Direct Materials Inventory $ 9,200 Work in Process Inventory 78,400 Finished Goods Inventory 53,600 Manufacturing Overhead -0-

Explanation / Answer

Direct materials inventory $18950
Work in process inventory $3526
Finished goods inventory $ 15203


b.
As of January 31, what will be the balance in the Manufacturing Overhead account? (Input all amounts as positive values.Omit the "$" sign in your response.)

Manufacturing overhead $663

c.
What was Bags and Luggage's operating income for January? (Input all amounts as positive values. Omit the "$" sign in your response.)

Operating income $54215

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