The accounting information system of Bell Co. reported the following cost and inventory data for the year: Costs Incurred Raw Materials Purchased $ 50,000 Direct Labor 100,000 Manufacturing Overhead 125,000 Advertising expenses 25,000 Selling & administrative expenses 75,000 Net Revenue 400,000 Inventories Beginning Balance Ending Balance Raw Materials $15,000 $20,000 Work in Process 20,000 30,000 Finished Goods 40,000 35,000

Required: 1. Calculate the cost of goods manufactured. 2. Calculate the cost of goods sold. 3. Calculate the gross margin. 4. Calculate the operating income.