Materials 46,000. Work in process 31,500. Finished goods (3,000 units) 88,500. No beginning inventories in at the 1st of the year.

Income Statement: Net sales 610,600. Cost of goods sold: Purchases of direct materials 181,000, direct labor costs 110,000. Manufacturing overhead 170,000. Selling Expenses 70,600. Administrative expenses 132,000. Total Costs 663,600. Net loss for year (53,000>).

Sold 10,00 units at cost of 663,600=66.36 per unit

No beginning inventories, starts with manufacturing costs assigned to production

Schedule of Cost of the finished goods manufactured:

Direct Materials used 135,000

Direct Labor 110,000

Manufacturing overhead 170,000

missing line item

Total Manufacturing costs: 415,000 (wrong)

Less work in process, end of year 31,500

COGM= 383,500 (wrong)

average cost per unit manufactured=29.50 (correct)

Income statement (multi step format, assume an income tax rate of 30%)

net sales=610600. Cost of finished goods manufactured 383,500. ending inventory of finished goods less 88500. less cost of goods sold 295,000. gross profit on sales 315,600. operating expenses: selling expenses 70,600. administrative expenses 132,000. less total operating expenses 202,600. operating income 113,000. income tax expense 33,900. net income 79,100. -what did i do wrong?