Chapters 5,6A Homework i Saved Help Save & Exit Submit Check my work 10 Luke's Lubricants starts business on January 1. The following operations data are available for January for the one lubricant it produces: 1 Gallons points Beginning inventory Started in January 153,000 Ending work-in-process inventory (80% complete) 19,000 Book Costs incurred in January follow: Materials $ 196, 400 Print Labor 27,000 Manufacturing overhead 75,000 n References All production at Luke's is sold as it is produced (there are no finished goods inventories). Required: a. Compute cost of goods sold for January. (Do not round intermediate calculations.) Cost of goods sold b. What is the value of work-in-process inventory on January 31? (Do not round intermediate calculations.) Work-in-process inventory Mc Graw Ti