question archive eBook Show Me How 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 $166,040 Selling expenses 55,460 Administrative expenses 29,320 Sales 353,270 Finished goods inventory, January 1 39,920 Finished goods inventory, January 31 36,390 a
eBook Show Me How 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 $166,040 Selling expenses 55,460 Administrative expenses 29,320 Sales 353,270 Finished goods inventory, January 1 39,920 Finished goods inventory, January 31 36,390 a
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eBook Show Me How 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 $166,040 Selling expenses 55,460 Administrative expenses 29,320 Sales 353,270 Finished goods inventory, January 1 39,920 Finished goods inventory, January 31 36,390 a. For the month ended January 31, determine Bandera Manufacturing's cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 b. For the month ended January 31, determine Bandera Manufacturing's gross profit. Bandera Manufacturing Company Gross Profit January 31
eDOUR Show Me How b. For the month ended January 31, determine Bandera Manufacturing's gross profit. Bandera Manufacturing Company Gross Profit January 31 c. For the month ended January 31, determine Bandera Manufacturing's net income. Bandera Manufacturing Company Net Income January 31 Operating expenses: Total operating expenses
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a.
| Bandera Manufacturing Company | |
| Cost of Goods Sold | |
| At January 31 | |
| Cost of goods manufactured | 166,040 |
| Finished goods inventory, January 1 | 39,920 |
| Cost of goods available for sale | 205,960 |
| Finished goods inventory, January 31 | -36,390 |
| Cost of goods sold | $169,570 |
b.
| Bandera Manufacturing Company | |
| Gross Profit | |
| At January 31 | |
| Sales | 353,270 |
| Cost of goods sold | -169,570 |
| Gross Profit | $183,700 |
c.
| Bandera Manufacturing Company | ||
| Net Income | ||
| At January 31 | ||
| Gross Profit | 183,700 | |
| Operating Expenses: | ||
| Selling expenses | 55,460 | |
| Administrative expenses | 29,320 | |
| Total operating expenses | -84,780 | |
| Net Income | $98,920 | |
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