1.000 Purch Det 000 & CONCEPCION Instructions Labels and Amount Descriptions Be Refer to the list below for the exact wording of a label or an amount description within your income statement Labels Add Less Amount Descriptions Cost of goods sold Gross margin Selling expense Administrative expense Operating income Operating loss Sales a 1. Calculate the cost of goods manufactured Berry's cost of goods manufactured for last year was 5 Points 2 Calculate the cost of goods sold Berry's cost of goods sold for last year was 5 3. Assume that the average the trade 82,100 ewe an come statement for der er best and Anunt Checide to the ones wording er det to menos por mennest Question nor attempted Score/60 Berry Company Income Start For Last 1 5 is an al ral tim located in Detroit, Michiga 700 desic Number of designs completed and sold Beginning inventory of direct materials $20,0 Beginning inventory of designs in process 60,0 Ending inventory of direct materials 10,00 Ending inventory of designs in process 100,00 Purchases, direct materials 40,00 Direct labor 800,00 Manufacturing overhead 100,00 Administrative expense 150,000 Selling expense 60,000 300,000 Beginning inventory of finished designs Ending inventory of finished designs 280,000 Required: 1. Calculate the cost of goods manufactured. 2. Calculate the cost of goods sold. 3. Assume that the average fee for a design is $2,100. Prepare a Required: 1. Calculate the cost of goods manufactured 2. Calculate the cost of goods sold. 3. Assume that the average fee for a design is 52,100. Prepare an income statement for Berry 4. CONCEPTUAL CONNECTION: Refer to the cost of goods sold (calculated in Requirement 2). What is the dominant cost? Briefly explain why this cost is the dominant one for Berry Instructions tery Canganya watum och The company with um