The following information is available for Gonzalez Manufacturing Company for the month ending March 31, 2010: Cost
Question:
The following information is available for Gonzalez Manufacturing Company for the month ending March 31, 2010:
Cost of goods manufactured .........$240,000
Selling expenses .............. 76,500
Administrative expenses .......... 40,500
Sales ................... 486,000
Finished goods inventory, March 1 ....... 54,000
Finished goods inventory, March 31 ..... 50,000
For the month ended March 31, 2010, determine Gonzalez’s
a. Cost of goods sold,
b. Gross profit, and
c. Net income.
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a Finished goods inventory March 1 2010 54000 Cost of goods manufactured 240000 Cost o...View the full answer
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Related Book For
Managerial Accounting
ISBN: b010ikdqzm
10th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan E. Duchac
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