Statement of Cost of Goods Manufactured and Income Statement

Information from the records of the Bridgeview Manufacturing Company for August 2017 follows:

Sales$313,000

Selling and administrative expenses127,500

Purchases of raw materials43,000

Direct labor30,000

Manufacturing overhead53,500

InventoriesAugust 1 August 31

Raw materials$ 6,000$ 5,000

Work-in-process12,00011,000

Finished goods15,00017,000

Required

Prepare a statement of cost of goods manufactured and an income statement for August 2017.

Do not use negative signswith any of your answers below.

Bridgeview Manufacturing CompanyStatement of Cost of Goods ManufacturedFor the Month Ending August 31, 2017

Current manufacturing costs:Cost of materials placed in production:Raw materials, 8/1/17PurchasesTotal availableRaw materials, 8/31/17Direct laborManufacturing overheadWork-in-process, 8/1/17Total costs in processWork-in-process, 8/31/17Cost of goods manufactured

Bridgeview Manufacturing CompanyIncome StatementFor the Month Ending August 31, 2017

SalesCost of goods soldFinished goods inventory, 8/1/17Cost of goods manufacturedTotal goods available for saleFinished goods inventory, 8/31/17Gross profitSelling and administrative expensesNet income

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