Question

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

Sales	$318,000
Selling and administrative expenses	127,500
Purchases of raw materials	48,000
Direct labor	30,000
Manufacturing overhead	58,500

		Inventories
		August 1	August 31
Raw materials		$ 11,000	$ 5,000
Work-in-process		17,000	11,000
Finished goods		15,000	22,000

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	Answer
Total available	Answer
Raw materials, 8/31/17	Answer	Answer
Direct labor		Answer
Manufacturing overhead		Answer	Answer
Work-in-process, 8/1/17			Answer
Total costs in process			Answer
Work-in-process, 8/31/17			Answer
Cost of goods manufactured			Answer

Bridgeview Manufacturing Company
Income Statement
For the Month Ending August 31, 2017
Sales			Answer
Cost of goods sold
Finished goods inventory, 8/1/17		Answer
Cost of goods manufactured		Answer
Total goods available for sale		Answer
Finished goods inventory, 8/31/17		Answer	Answer
Gross profit			Answer
Selling and administrative expenses			Answer
Net income			Answer

Answer 1