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 $148,080 Selling expenses 49,470 Administrative expenses 26,150 Sales 315,070 Finished goods inventory, January 1 35,600 Finished goods inventory, January 31 32,450 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods Sold January 31 Sales $fill in the blank b71124ffbf90fa3_2 Gross profit fill in the blank b71124ffbf90fa3_4 $fill in the blank b71124ffbf90fa3_6 fill in the blank b71124ffbf90fa3_8 $fill in the blank b71124ffbf90fa3_10 (b) Bandera Manufacturing Company Gross Profit January 31 $fill in the blank abf993ffc04afc7_2 fill in the blank abf993ffc04afc7_4 $fill in the blank abf993ffc04afc7_6 (c) Bandera Manufacturing Company Net Income January 31 $fill in the blank 504cd5ff602dff4_2 Operating expenses: $fill in the blank 504cd5ff602dff4_4 fill in the blank 504cd5ff602dff4_6 Total operating expenses
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 $148,080 Selling expenses 49,470 Administrative expenses 26,150 Sales 315,070 Finished goods inventory, January 1 35,600 Finished goods inventory, January 31 32,450 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Bandera Manufacturing Company Cost of Goods Sold January 31 Sales $fill in the blank b71124ffbf90fa3_2 Gross profit fill in the blank b71124ffbf90fa3_4 $fill in the blank b71124ffbf90fa3_6 fill in the blank b71124ffbf90fa3_8 $fill in the blank b71124ffbf90fa3_10 (b) Bandera Manufacturing Company Gross Profit January 31 $fill in the blank abf993ffc04afc7_2 fill in the blank abf993ffc04afc7_4 $fill in the blank abf993ffc04afc7_6 (c) Bandera Manufacturing Company Net Income January 31 $fill in the blank 504cd5ff602dff4_2 Operating expenses: $fill in the blank 504cd5ff602dff4_4 fill in the blank 504cd5ff602dff4_6 Total operating expenses
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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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 | $148,080 |
| Selling expenses | 49,470 |
| Administrative expenses | 26,150 |
| Sales | 315,070 |
| Finished goods inventory, January 1 | 35,600 |
| Finished goods inventory, January 31 | 32,450 |
For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income.
(a)
| Bandera Manufacturing Company | |
| Cost of Goods Sold | |
| January 31 | |
| Sales | $fill in the blank b71124ffbf90fa3_2 |
| Gross profit | fill in the blank b71124ffbf90fa3_4 |
| $fill in the blank b71124ffbf90fa3_6 | |
| fill in the blank b71124ffbf90fa3_8 | |
| $fill in the blank b71124ffbf90fa3_10 |
(b)
| Bandera Manufacturing Company | |
| Gross Profit | |
| January 31 | |
| $fill in the blank abf993ffc04afc7_2 | |
| fill in the blank abf993ffc04afc7_4 | |
| $fill in the blank abf993ffc04afc7_6 |
(c)
| Bandera Manufacturing Company | ||
| Net Income | ||
| January 31 | ||
| $fill in the blank 504cd5ff602dff4_2 | ||
| Operating expenses: | ||
| $fill in the blank 504cd5ff602dff4_4 | ||
| fill in the blank 504cd5ff602dff4_6 | ||
| Total operating expenses |
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