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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 $4,490,000 Selling expenses 530,000 Administrative expenses 340,000 Sales 6,600,000 Finished goods inventory, January 1 880,000 Finished goods inventory, January 31 775,000   a.  For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31   $- Select -   - Select -   $- Select -   - Select -   $- Select -   b.  For the month ended January 31, determine Bandera Manufacturing’s gross profit. Bandera Manufacturing Company Gross Profit January 31   $- Select -   - Select -   $- Select -   c.  For the month ended January 31, determine Bandera Manufacturing’s net income. Bandera Manufacturing Company Net Income January 31     $- Select - Operating expenses:       $- Select -     - Select -   Total operating expenses   fill in the blank 115d78009fe5070_7     $- Select -

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 $4,490,000 Selling expenses 530,000 Administrative expenses 340,000 Sales 6,600,000 Finished goods inventory, January 1 880,000 Finished goods inventory, January 31 775,000   a.  For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31   $- Select -   - Select -   $- Select -   - Select -   $- Select -   b.  For the month ended January 31, determine Bandera Manufacturing’s gross profit. Bandera Manufacturing Company Gross Profit January 31   $- Select -   - Select -   $- Select -   c.  For the month ended January 31, determine Bandera Manufacturing’s net income. Bandera Manufacturing Company Net Income January 31     $- Select - Operating expenses:       $- Select -     - Select -   Total operating expenses   fill in the blank 115d78009fe5070_7     $- Select -

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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  1. 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 $4,490,000
    Selling expenses 530,000
    Administrative expenses 340,000
    Sales 6,600,000
    Finished goods inventory, January 1 880,000
    Finished goods inventory, January 31 775,000

     

    a.  For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold.

    Bandera Manufacturing Company
    Cost of Goods Sold
    January 31
     
    		 $- Select -
     
    		 - Select -
     
    		 $- Select -
     
    		 - Select -
     
    		 $- Select -
     

    b.  For the month ended January 31, determine Bandera Manufacturing’s gross profit.

    Bandera Manufacturing Company
    Gross Profit
    January 31
     
    		 $- Select -
     
    		 - Select -
     
    		 $- Select -
     

    c.  For the month ended January 31, determine Bandera Manufacturing’s net income.

    Bandera Manufacturing Company
    Net Income
    January 31
     
    		   $- Select -
    Operating expenses:    
     
    		 $- Select -  
     
    		 - Select -  
    Total operating expenses   fill in the blank 115d78009fe5070_7
     
    		   $- Select -
     
     
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