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Statement of Cost of Goods Manufactured and Income Statement Information from the records of the Bridgeview Manufacturing Company for August 2017 follows: Sales $314,000 Selling

Statement of Cost of Goods Manufactured and Income Statement Information from the records of the Bridgeview Manufacturing Company for August 2017 follows:

Sales $314,000
Selling and administrative expenses 127,500
Purchases of raw materials 44,000
Direct labor 30,000
Manufacturing overhead 54,500

Inventories
August 1 August 31
Raw materials $ 7,000 $ 5,000
Work-in-process 13,000 11,000
Finished goods 15,000 18,000

Required Prepare a statement of cost of goods manufactured and an income statement for August 2017. Do not use negative signs with any of your answers below.

Bridgeview Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ending August 31, 2017
Current manufacturing costs:
Cost of materials placed in production:
Raw materials, 8/1/17

Answer

Purchases

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Total available

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Raw materials, 8/31/17

Answer

Answer

Direct labor

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Manufacturing overhead

Answer

Answer

Work-in-process, 8/1/17

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Total costs in process

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Work-in-process, 8/31/17

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Cost of goods manufactured

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Bridgeview Manufacturing Company
Income Statement
For the Month Ending August 31, 2017
Sales

Answer

Cost of goods sold
Finished goods inventory, 8/1/17

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Cost of goods manufactured

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Total goods available for sale

Answer

Finished goods inventory, 8/31/17

Answer

Answer

Gross profit

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Selling and administrative expenses

Answer

Net income

Answer

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