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How to solve ome File Edit View History Bookmarks Profiles Tab Window ...

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Accounting

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Module One - ACC-202-12243
CengageNOWv2| Online teach
v2.cengagenow.com/iln/takeAssignment/takeAssignmentMain.d
blem Set: Module 1
eBook
Financial statements of a manufacturing firm
The following events took place for Sorensen Manufacturing Company during January, t
a. Purchased $225,000 of materials.
b. Used $162,000 of direct materials in production.
c. Incurred $405,000 of direct labor wages.
d. Incurred $162,000 of factory overhead.
e. Transferred $684,000 of work in process to finished goods.
f. Sold goods for $1,080,000.
g. Sold goods with a cost of $607,500.
h. Incurred $193,500 of selling expense.
i. Incurred $112,500 of administrative expense.
This information has been collected in the Microsoft Excel Online file. Open the spreadsh
Open spreadsheet
Using the information given, complete the following:
a. Prepare the January income statement for Sorensen Manufacturing Company.
Sorensen Manufacturing Company
Income Statement
For the Month Ended January 31
Revenues
Cost of goods sold
signment Score: 33.33%

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