Business, 29.08.2020 18:01 juju323261

Backyard style is a manufacturer of backyard and deck furniture. Its products are in high demand and it carries no inventory. Following is a list of selected account balances from its trial balance for the most recent year ended December 31 (in no particular order.)Salaries and wages (for administrative and sales staff) 33,500Stain (used in manufacturing furniture. 13,500Indirect labor costs (wages of maintenance workers In factory) . 21,500Other manufacturing overhead 10,000Rent and utilities (for administrative offices) 12,100Utility costs (related to factory) 11,100Labor costs (wages of carpenters who build furniture) 36,500Accounts receivable 27,800Marketing costs 16,600Wood (used in manufacturing furniture) 58,000Sales revenues 290,000Accounts payable. 6,600Using the income statement accounts in the table, calculate: a. Cost of goods sold. Hint: Cost of goods sold can be calculated by summing the total product costs since there is no inventory. b. Operating expenses. Hint: Operating expenses are the company's period costs. c. Gross profit d. Operating income

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Backyard style is a manufacturer of backyard and deck furniture. Its products are in high demand and...

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