Schedule of Cost of Goods Manufactured

Ball Bearing Corporation

Schedule of cost of Goods Manufactured

Solve for missing data

Raw Material Used $300,000

Direct Labor 70,000

Total Manufacturing Overhead 130,000

Total Manufacturing Cost ?

Add: Work In Process, Inventory February 1 240

Subtotal ?

Deduct: Work In Process inventory, December 31 200

Cost of Goods Manufactured ?

Ball Bearing Corporation

Income Statement

For The Year Ended December 31, 2020

Sales Revenue $900,000

Less: Cost of goods sold 515,000

Gross Margin ?

Selling & Admin Expenses 100,000

Income before taxes ?

Income Tax Expense 20,000

NET INCOME ?