Question 2 Not yet answered M arked out of 14.00 P Flag question Statement of Cost of Goods Manufactured and Income Statement Information from the records of the Bridgeview Manufacturing Company for August 2017 follows: Sales Selling and administrative expenses Purchases of raw materials Direct labor Manufacturing overhead $314,000 127,500 44,000 30,000 54,500 Inventories August 1 August 31 Raw materials $7,000 $5,000 Work-in-process 13,000 11,000 Finished goods 15,000 18,000 Required Prepare a statement of cost of goods manufactured and an income statement for August 2017. Do not use negative signs with any of your answers below. Bridgeview Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ending August 31, 2017 Current manufacturing costs: Cost of materials placed in production: Raw materials, 8/1/17 Purchases Total available Raw materials, 8/31/17 Direct labor Manufacturing overhead Work-in-process, 8/1/17 Total costs in process Work-in-process, 8/31/17 Cost of goods manufactured Bridgeview Manufacturing Company Income Statement For the Month Ending August 31, 2017 Sales Cost of goods sold Finished goods inventory, 8/1/17 $ Cost of goods manufactured Total goods available for sale Finished goods inventory, 8/31/17 Gross profit Selling and administrative expenses Net income