2.

Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company

The following information is available for Bandera Manufacturing Company for the month ending January 31:

Cost of goods manufactured	$268,330
Selling expenses	89,630
Administrative expenses	47,390
Sales	570,920
Finished goods inventory, January 1	64,510
Finished goods inventory, January 31	58,800

For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income.

(a)

Bandera Manufacturing Company
Cost of Goods Sold
January 31
	$
	$
	$

(b)

Bandera Manufacturing Company
Gross Profit
January 31
	$
	$

(c)

Bandera Manufacturing Company
Net Income
January 31
		$
Operating expenses:
	$
Total operating expenses
		$