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 $$207,500$

Selling expenses $69,310$

Administrative expenses $36,640$

Sales $441,490$

Finished goods inventory, January $149,890$

Finished goods inventory, January $3145,470$

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

Bandera Manufacturing Company

Cost of Goods Sold

January $31$

Finished goods inventory, January $1$

$Finished goods inventory, January $1$

Cost of goods manufactured

Cost of goods manufactured

Cost of finished goods available for sale

$Cost of finished goods available for sale

Finished goods inventory, January $31$

Finished goods inventory, January $31$

Cost of goods sold

$Cost of goods sold

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a$.$ Add the cost of goods manufactured to the beginning finished goods. Subtract the ending finished goods.

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

Bandera Manufacturing Company

Gross Profit

January $31$

Sales

$Sales

Cost of goods sold

Cost of goods sold

Gross profit

$Gross profit

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b$.$ Sales minus cost of goods sold equals gross profit.

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

Bandera Manufacturing Company

Net Income

January $31$

Gross profit

$Gross profit

Operating expenses:

Selling expenses

$Selling expenses

Administrative expenses

Administrative expenses

Total operating expenses fill in the blank efb$7$e$4$fda$06$c$062\_7$

Net income

$Net income

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