Skater Mania produces skateboards. The company uses a normal costing system and machine hours (MH) to apply overhead to production. Any manufacturing overhead variance is closed to COGS at the end of the year. SM sold 450,000 skateboards during the past calendar year. The skateboards sell for $45 each

Estimated Manufacturing Overhead .............$ 450,000

Estimated direct labor hours ......................40,000 direct labor hours (DLHs)

Estimated machine hours ..........................100,000 machine hours (MH)

Actual direct labor hours ..........................55,000 direct labor hours (DLHs)

Actual machine hours ..............................85,000 machine hours (MH)

Purchases of direct materials ...................... $ 350,000

Direct materials inventory, January 1 ............ $ 15,000

Direct materials inventory, December 31 ........ $ 40,000

Direct labor dollars .................................. $ 725,000

Maintenance on factory equipment................$ 145,000

Depreciation, sales headquarters.................. $ 30,000

Depreciation, factory equipment .................. $ 50,000

Property taxes on the factory ...................... $ 20,000

Property taxes on sales headquarters ..............$ 16,000

Utilities, factory ..................................... $ 120,000

Utilities, sales headquarters ........................$ 1,900

Insurance on the factory ............................ $ 17,000

Salary, sales supervisor ............................. $ 90,000

Commissions, salespersons ........................ 1.5% of sales

Salary, Administration .............................. $ 150,000

Work in process inventory, January 1 ............ $ 25,000

Work in process inventory, December 31......... $ 45,000

Finished goods inventory, January 1 .............. $ 0

Finished goods inventory, December 31 ......... $ 0

Effective tax rate .................................... 20 %

7.How much is Cost of Goods Manufactured for SkaterMania Company? _________________

8.How much is Adjusted Cost of Goods Sold for SkaterMania Company?_________________

9.How much is Operating Income (before tax) closest to for SkaterMania Company?_________________

10.How much is Net Income (after tax) closest to for SkaterMania Company?_________________