Using the information below, calculate the net income for the period for Priyanka Manufacturing Inc. Beginning Raw Materials Inventory $28,000 Ending Raw Materials Inventory $32,000 Beginning Work in Process Inventory $60,000 Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold for the period Sales Revenues for the period Operating Expenses for the period $70,000 $85,000 $72,000 $580,000 $1,300,000 $250,000

Using the information below, calculate the net income for the period for Priyanka Manufacturing Inc. Beginning Raw Materials Inventory $28,000 Ending Raw Materials Inventory $32,000 Beginning Work in Process Inventory $60,000 Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold for the period Sales Revenues for the period Operating Expenses for the period $70,000 $85,000 $72,000 $580,000 $1,300,000 $250,000

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...

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Calculate the net income for the period for Priyanka manufacturing
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Using the information below, calculate the gross profit for the period. Beginning Raw Materials Inventory $25,000 Ending Raw Materials Inventory 30,000 Beginning Work in Process Inventory 55,000 Ending Work in Process Inventory 64,000 Beginning Finished Goods Inventory 80,000 Ending Finished Goods Inventory 67,000 Cost of Goods Sold for the period 5,40,000 Sales revenues for the period 12,54,000 Operating expenses for the period 2,32,000 A. $727,000. B. $1,022,000. C. $187,000. D. $714,000. E. $482,000.
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