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I need help calculating the Sales, COGS, Gross Margin, and Operating Income based on the...

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Accounting

I need help calculating the Sales, COGS, Gross Margin, and Operating Income based on the below information. Thank you in advance for any help!

Income Statement

Predetermined Overhead Rate, Application of Overhead to Jobs, Job Cost, Unit Cost

On August 1, Cairle Company's work-in-process inventory consisted of three jobs with the following costs:

Job 70 Job 71 Job 72

Direct materials $1,500 $2,000 $850

Direct labor 1,900 1,300 900

Applied overhead 1,520 1,040 720

During August, four more jobs were started. Information on costs added to the seven jobs during the month is as follows:

Job 70 Job 71 Job 72 Job 73 Job 74 Job 75 Job 76

Direct materials $800 $1,235 $3,600 $5,000 $300 $560 $80

Direct labor 1,000 1,400 2,200 1,800 600 900 180

Before the end of August, Jobs 70, 72, 73, and 75 were completed. On August 31, Jobs 72 and 75 were sold.

Cairle's selling and administrative expenses for August were $1,100. Assume that Cairle prices its jobs at cost plus 20 percent.

Required:

Compose an income statement for Cairle Company for August.

Cairle Company

Income Statement

For the Month of August

Sales$

COG sold$

Gross margin$

Selling and Admin Exp$1,100

Operating income$

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