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	$162,310
Selling expenses	54,220
Administrative expenses	28,660
Sales	345,350
Finished goods inventory, January 1	39,020
Finished goods inventory, January 31	35,570

a. For the month ended January 31, determine Bandera Manufacturings cost of goods sold.

Bandera Manufacturing Company
Cost of Goods Sold
January 31
Finished goods inventory, January 1	$fill in the blank cdfd7307bfa507c_2
Cost of goods manufactured	fill in the blank cdfd7307bfa507c_4
Cost of finished goods available for sale	$fill in the blank cdfd7307bfa507c_6
Finished goods inventory, January 31	fill in the blank cdfd7307bfa507c_8
Cost of goods sold	$fill in the blank cdfd7307bfa507c_10

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a. Add the cost of goods manufactured to the beginning finished goods. Subtract the ending finished goods.

b. For the month ended January 31, determine Bandera Manufacturings gross profit.

Bandera Manufacturing Company
Gross Profit
January 31
Sales	$fill in the blank 05e9fc037ffe02f_2
Cost of goods sold	fill in the blank 05e9fc037ffe02f_4
Gross profit	$fill in the blank 05e9fc037ffe02f_6

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b. Sales minus cost of goods sold equals gross profit.

c. For the month ended January 31, determine Bandera Manufacturings net income.

Bandera Manufacturing Company
Net Income
January 31
Gross profit		$fill in the blank e477c3029059fae_2
Operating expenses:
Selling expenses	$fill in the blank e477c3029059fae_4
Administrative expenses	fill in the blank e477c3029059fae_6
Total operating expenses		fill in the blank e477c3029059fae_7
Net income		$fill in the blank e477c3029059fae_9