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Sales $825,000 Beginning Raw Materials Inventory 25,000 Beginning Work-in-Process Inventory 30,000 Beginning Finished Goods Inventory 32,000 Ending Raw Materials Inventory 24,000 Ending Work-in-Process Inventory 28,000

Sales

$825,000

Beginning Raw Materials Inventory

25,000

Beginning Work-in-Process Inventory

30,000

Beginning Finished Goods Inventory

32,000

Ending Raw Materials Inventory

24,000

Ending Work-in-Process Inventory

28,000

Ending Finished Goods Inventory

34,000

Raw Materials Purchased

225,000

Assembly Line Labor Costs

175,000

Factroy Supplies Used

4,500

Depreciation on Factory

22,000

Depreciation on Machinery

32,000

Depreciation on Sales Office

13,000

Depreciation on Administrative Equipment

9,000

Sales Salaries

78,000

Factory Supervision

65,000

Factory Security Guard Cost

33,000

Office Security Guard Cost

28,000

(A) What is the cost of materials used during the current year?

(B) What is the overhead incurred during the current year?

(C) What is the total manufacturing (product) cost for the current year?

(D) What is the total cost of goods manufactured for the current year?

(E) What is the total cost of goods sold for the year?

(F) What is the gross profit for the year?

(G) What is the net income for the year?

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