Statement of Cost of Goods Manufactured and Income Statement Information from the records of the Bridgeview Manufacturing Company for August 2017 follows:
Sales $313,000
Selling and administrative expenses 127,500
Purchases of raw materials 43,000
Direct labor 30,000
Manufacturing overhead 53,500
Inventories
August 1 August 31
Raw materials $ 6,000 $ 5,000
Work-in-process 12,000 11,000
Finished goods 15,000 17,000
Required
Prepare a statement of cost of goods manufactured and an income statement for August 2017.
Do not use negative signs with any of your answers below.
Bridgeview Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ending August 31, 2017
Current manufacturing costs:
Cost of materials placed in production:
Raw materials, 8/1/17 Answer
Purchases Answer
Total available Answer
Raw materials, 8/31/17 Answer
Answer
Direct labor Answer
Manufacturing overhead Answer
Answer
Work-in-process, 8/1/17 Answer
Total costs in process Answer
Work-in-process, 8/31/17 Answer
Cost of goods manufactured Answer
Bridgeview Manufacturing Company
Income Statement
For the Month Ending August 31, 2017
Sales Answer
Cost of goods sold
Finished goods inventory, 8/1/17 Answer
Cost of goods manufactured Answer
Total goods available for sale Answer
Finished goods inventory, 8/31/17 Answer
Answer
Gross profit Answer
Selling and administrative expenses Answer
Net income Answer