Use the information below to answer the following two questions:

Buchanan Company uses a job-order costing system to assign manufacturing costs to jobs. During January the company completed the following transactions (all figures are in $1,000). a. Purchased raw materials on account, $74. b. Raw materials used in production, $77 ($67 was direct materials and $10 was indirect materials).

c. Paid $167 of salaries and wages in cash ($95 was direct labor, $35 was indirect labor, and $37 was related to employees responsible for selling and administration).

d. Various manufacturing overhead costs incurred (on account) to support production, $33.

e. Depreciation recorded on property, plant, and equipment, $90 (70% related to manufacturing equipment and 30% related to assets that support selling and administration).

f. Various selling expenses paid in cash, $20. g. Manufacturing overhead applied to production, $132. h. Cost of goods manufactured, $288. i. Cash sales to customers, $395. j. Cost of goods sold (unadjusted), $285. k Underapplied or overapplied overhead is closed to COGS.

Cash	RM	WIP	FG	MOH	PP&E	=	A/P	R/E
32	9	4	17	0	190		7	245

To answer the questions, enter the numbers relevant for calculation in the table above. Use a positive number if the account balance increase and a negative number if it decreases. If the numbers are not entered, you will not receive points even if you pick the right answer.

The ending balance of WIP on January 31 is: A. $ 17 B. $ 6 C. $ 20 D. $ 10 E None of the above

Retained earnings at the end of January is: A. $ 280 B. $ 282 C. $ 262 D. $ 271 E None of the above