Following are the Cost Statement particulars for Presley Manufacturing Ltd.

Administrative expenses $ 60,000

Depreciation expense Manufacturing equipment $ 50,000

Direct labor $ 468,000

Manufacturing supplies expense $ 40,000

Indirect labor $ 36,000

Beginning inventories, January 1:

Direct materials $ 14,000

Work in process $ 20,000

Finished goods $ 128,000

Ending inventories, December 31:

Direct materials $ 44,000

Work in process $ 56,000

Finished goods $ 92,000

Direct materials purchases $ 216,000

Rent expense Factory $ 28,000

Sales $ 1,400,000

Selling expense $ 72,000

Other manufacturing overhead $ 126,000

What is the Gross Margin for Presley Manufacturing Ltd.?

1. $344,000

2. $466,000

3. $186,000

4.$132,000

What is the Total Cost (Cost Statement) for Presley Manufacturing Ltd.?

1. $1,400,000

2. $1,334,000

3. $1,132,000

4. $1,066.000

What is the Income from Operations for Presley Manufacturing Ltd.?

1. $132,000

2. $334,000

3. $186,000

4. $212,000