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the two descriptions here are for ch18 task 1 and 2. the attachments are everything else forever plastic manufacturing creates products from recycled plastics. the following events took place during january of 2013: 1. purchased $34,000 of materials from rector recycle 2. incurred $108,000 factory overhead. 3. transferred $217,000 of work in process to finished goods. 4. incurred $39,000 of administrative expense. 5. sold goods with a cost of $170,000. 6. purchased $32,000 of materials from drapers disposal. 7. earned revenues of $325,000. 8. used $48,000 of direct materials in production. 9. incurred $92.000 of direct labor wages. 10. incurred $80,000 of selling expense. complete the following using the above information: a. prepare an income statement for the month of january for forever plastic manufacturing. b. determine the inventory balances at the end of january. speedy racing company reported the following materials data for the month ending september 30, 2013: materials purchased $860,000 materials inventory, sept. 1 $350,000 materials inventory, sept. 30 $300,000 determine the cost of direct materials used in production by speedy racing during the month that ended september 30, 2013.
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