Answer:
Answer: Cost of goods sold, gross profit and net income
Explanation:
Bandera Manufacturing Company
Cost of Goods Sold
Jan-31  
Finished Goods Inventory, January 1	73590
Add: Cost of Goods Manufactured	306090
Total Goods Available for Sales	379680
Less: Finished Goods Inventory, January 31	67080
Cost of Goods Sold	312600
b)  
Bandera Manufacturing Company
Gross Profit
Jan-31
Sales	651250
Less: Cost of Goods Sold	312600
Gross Profit	338650
c)  
Bandera Manufacturing Company
Net Income
Jan-31
Gross Profit  338650
Operating Expenses:  
Selling expenses	102250  
Administrative expenses	54050  
Less: Total Operating Expense  156300
Net Income  182350
2)  
a)  
Digital Vibe Manufacturing Company
Income Statement
For the Month Ended January 31
Sales  232300
Less: Cost of goods sold  103400
Gross profit  128900
Less: Operating expense  
Selling expense	59400  
Administrative expense	26100  
Total operating expense  85500
Net income  43400
b)  
Particulars	Amount ($)
Materials purchased	48300
Less: Materials used for production	37200
Ending balance of materials	11100
Particulars	Amount ($)
Materials used for production	37200
Add: Direct labor wages	55500
Add: Factory overhead	78200
Total cost of manufacturing	170900
Less: Transferred to finished goods	129900
Ending balance of work-in-process	41000
Particulars	Amount ($)
Transfer from work-in-process	129900
Less: Cost of goods sold	103400
Ending balance of finished goods	26500