Rainier Company Yakima Company $280,000.00 177,000.00 175,000.00 340,000.00 2 Materials inventory, May 1 3 Materials inventory. May 31 4Materials purchased 5 Cost of direct materials used in production 6 Direct labor 7 Factory overhead 8 Total manufacturing costs incurred May 9 Total manufacturing costs 10 Work in process inventory. May 1 11 Work in process inventory, May 31 12 Cost of goods manufactured 13 Finished goods inventory, May 1 14 Finished goods inventory, May 31 15 Sales 16 Cost of goods sold 17 Gross profit 18 Operating expenses 19 Net income 712,600.00 752,800.00 1,059,800.00 326,600.00 179,400.00 1,038,000.00 1,480,500.00 442,500.00 .679,200.00 1,4 540,000.00 451,400.00 1,026,500.00 75,200.00 200,000.00 495,600.00 ,142,000.00 1,679,000.00 ,048,500.00 45,000.00 384,100.00