1. Lastmonth a manufacturing company had the following operating results:

Beginning finished goods inventory ............ $70,000 [2.5]

Ending finished goods inventory ................. $50,000

Sales ............................................................. $4,53,000

Gross margin ................................................ $53,000

What was the cost of goods manufactured for the month?

1. ABC Company accounts for the just completed year. [10]

Sales ...................................................................... $2000

Raw materials inventory, beginning ..................... 200

Raw materials inventory, ending ........................... 50

Purchases of raw materials .................................... 390

Direct labor ............................................................ 250

Manufacturing overhead ....................................... 410

Administrative expenses ....................................... 100

Selling expenses .................................................... 420

Work in process inventory, beginning ................. . 60

Work in process inventory, ending ....................... 70

Finished goods inventory, beginning .................... 80

Finished goods inventory, ending ......................... 240

Use these data to answer the following series of questions.

Requirements: 1) Schedule of Cost of Goods Manufactured (CGM) 2) Schedule of Cost of Goods Sold(CGS) 3) Income Statement