The following information is available for Bandera Manufacturing Company for the month ending January 31:Cost of goods manufactured$4,490,000Selling expenses530,000Administrative expenses340,000Sales6,600,000Finished goods inventory, January 1880,000Finished goods inventory, January 31775,000 a. For the month ended January 31, determine Bandera Manufacturing’s cost of goods sold.Bandera Manufacturing CompanyCost of Goods SoldJanuary 31 $Finished goods inventory, January 1 - Select - $- Select - - Select - $- Select - b. For the month ended January 31, determine Bandera Manufacturing’s gross profit.Bandera Manufacturing CompanyGross ProfitJanuary 31 $- Select - - Select - $- Select - c. For the month ended January 31, determine Bandera Manufacturing’s net income.Bandera Manufacturing CompanyNet IncomeJanuary 31 $- Select -Operating expenses: $- Select - - Select - Total operating expenses fill in the blank 115d78009fe5070_7 $- Select -

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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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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 CompanyCost of Goods SoldJanuary 31

	$Finished goods inventory, January 1
	- Select -
	$- Select -
	- Select -
	$- Select -

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

Bandera Manufacturing CompanyGross ProfitJanuary 31

	$- Select -
	- Select -
	$- Select -

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

Bandera Manufacturing CompanyNet IncomeJanuary 31

		$- Select -
Operating expenses:
	$- Select -
	- Select -
Total operating expenses		fill in the blank 115d78009fe5070_7
		$- Select -

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