A company reports the following information.

	Direct materials used		$ 250,000
	Indirect materials used		22,000
	Direct labor		295,000
	Indirect labor		68,000
	Beginning WIP		8,000
	Expenses to operate the manufacturing building		175,000
	Sales		1,450,000
	Expenses at corporate headquarters		149,000
	Selling expenses		88,000
	Beginning finished goods		406,000
	Executive salaries		150,000
	Ending WIP		6,000
	Ending finished goods		422,000

Use this information to prepare an income statement, including cost of goods manufactured and cost of goods sold schedules.

Then enter the requested amounts in the spaces provided below.

Enter amounts with $ signs and commas.

Raw materials used = $Blank 1

Direct Labor = $Blank 2

Manufacturing overhead = $Blank 3

Total manufacturing costs (TMC) = $Blank 4

Cost of goods manufactured (COGM) = $Blank 5

Cost of goods sold (COGS) = $Blank 6

Gross profit (margin) = $Blank 7

Operating expenses = $Blank 8

Net income = $Blank 9