Learning Objective 6 Check Figure a) Cost of raw materials used = $218.000 Problem 25-2A Objective: To calculate amounts for a statement of cost of goods manufactured and an income statement Directions: From the data that follows, calculate (a) cost of raw materials used; (b) total manufacturing costs; (c) cost of goods manufactured: (d) cost of goods sold, (e) gross profit: (f) net income. Beginning Ending $25,000 41,500 22,800 Inventories Raw materials Work-in-process Finished goods Raw materials purchases Direct labor Factory overhead Operating expenses Selling expenses General expenses Revenue Sales $ 32.000 37,600 34,200 225.000 322,400 161.200 75,000 55.000 934,250