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	$295,140
Selling expenses	98,590
Administrative expenses	52,120
Sales	627,950
Finished goods inventory, January 1	70,960
Finished goods inventory, January 31	64,680

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
	$fill in the blank 2343f4fcafe5057_2
	fill in the blank 2343f4fcafe5057_4
	$fill in the blank 2343f4fcafe5057_6
	fill in the blank 2343f4fcafe5057_8
	$fill in the blank 2343f4fcafe5057_10

(b)

Bandera Manufacturing Company
Gross Profit
January 31
	$fill in the blank b09048051073fb1_2
	fill in the blank b09048051073fb1_4
	$fill in the blank b09048051073fb1_6

(c)

Bandera Manufacturing Company
Net Income
January 31
		$fill in the blank c40583fe202f05e_2
Operating expenses:
	$fill in the blank c40583fe202f05e_4
	fill in the blank c40583fe202f05e_6
Total operating expenses		fill in the blank c40583fe202f05e_7
		$fill in the blank c40583fe202f05e_9