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Statement of Cost of Goods Manufactured and Income Statement Information from the records of the Bridgeview Manufacturing Company for August follows: Sales $250,000 Selling and administrative expenses Purchases of raw materials 32,000 Direct labor 22,000 Manufacturing overhead 38,600 98,600 Inventories August 1 August 31 Raw materials $ 6,000 $ 6,500 Work-in-process 4,600 5,800 Finished goods 12,000 15,000 Required Prepare a statement of cost of goods manufactured and an income statement for August. Do not use negative signs with any of your answers below. Bridgeview Manufacturing Company Statement of Cost of Goods Manufactured August Current manufacturing costs: Cost of materials placed in production: Raw materials, 8/1 $ 6,000 Purchases 32,000 Total available 38,000 Raw materials, 8/31 (6,500) X $ 31,500 Direct labor 22,000 Manufacturing overhead 38,600 $ 92,100 Work-in-process, 8/1 0X Total costs in process 4,600 X Work-in-process, 8/31 (5,800) X Cost of goods manufactured $ 90,900 250,000 Bridgeview Manufacturing Company Income Statement August Sales $ Cost of goods sold Finished goods inventory, 8/1 12,000 Cost of goods manufactured 90,900 Total goods available for sale 0 x Finished goods inventory, 8/31 (15,000) * Gross profit Selling and administrative expenses Net income $ 87,900 162,100 (98,600) 0 x

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