Stanley's bicycles store buys bicycles on average for $600 and sells them on average for $800. he pays a sales commission of 15% of sales revenue to his sales staff. stanley pays $1900 a month rent for his store, and also pays $5000 a month to his staff in addition to the commissions. stanley sold 150 bicycles in june. if stanley prepares a traditional income statement for the month of june, what would be his operating income?

The following cost and inventory data are taken from the accounting records of mason company for the year just completed: costs incurred: direct labor cost $ 90,000 purchases of raw materials $ 134,000 manufacturing overhead $ 205,000 advertising expense $ 45,000 sales salaries $ 101,000 depreciation, office equipment $ 225,000 beginning of the year end of the year inventories: raw materials $ 8,100 $ 10,300 work in process $ 5,900 $ 21,000 finished goods $ 77,000 $ 25,800 required: 1. prepare a schedule of cost of goods manufactured. 2. prepare the cost of goods sold section of mason company’s income statement for the year.