Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $208,140 Selling expenses 69,530 Administrative expenses 36,760 Sales 442,850 Finished goods inventory, January 1 50,040 Finished goods inventory, January 31 45,610 a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Sales X 442,850 Cost of goods sold x 212,570 Cost of goods manufactured x 69,530 X Administrative expenses X 36,760 X Cost of goods manufactured x 123,990 X
Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $208,140 Selling expenses 69,530 Administrative expenses 36,760 Sales 442,850 Finished goods inventory, January 1 50,040 Finished goods inventory, January 31 45,610 a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Sales X 442,850 Cost of goods sold x 212,570 Cost of goods manufactured x 69,530 X Administrative expenses X 36,760 X Cost of goods manufactured x 123,990 X
Chapter12: Sequences, Series And Binomial Theorem
Section12.3: Geometric Sequences And Series
Problem 12.57TI: What is the total effect on the economy of a government tax rebate of $1,000 to each household in...
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a. Add the cost of goods manufactured to the beginning finished goods. Subtract the ending finished goods.
b. For the month ended January 31, determine Bandera Manufacturing's gross profit.
Bandera Manufacturing Company
Gross Profit
January 31
Finished goods Inventory, January 1 x
50,040 x
Selling expenses X
45,610 x
Cost of goods available for sale x
208,140 X
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b. Sales minus cost of goods sold equals gross profit.
C. For the month ended January 31. determine Bandera Manufacturing's net income.
Transcribed Image Text:Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company
The following information is available for Bandera Manufacturing Company for the month ending January 31:
Cost of goods manufactured
$208,140
Selling expenses
69,530
Administrative expenses
36,760
Sales
442,850
Finished goods inventory, January 1
50,040
Finished goods inventory, January 31
45,610
a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold.
Bandera Manufacturing Company
Cost of Goods Sold
January 31
Sales X
442,850 X
Cost of goods sold x
212,570 x
Cost of goods manufactured x
69,530 x
Administrative expenses X
36,760 X
Cost of goods manufactured x
123,990 X
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