During the year the company purchased 100000 of raw

Reference no: EM13587586

Hampton Company had the following inventory balances at the beginning and end of the year:
January 1st - Decemeber 31
Raw Material $50,000 - $35,000
Work in process 130,000 - 255,000
During the year, the company purchased $100,000 of raw material and spent $340,000 on direct labor. Other data: manufacturing overhead incurred, $450,000; sales, $1,560,000; selling and administrative expenses, $90,000; income tax rate, 30%.

Required:
A. Calculate cost of goods manufactured.
B. Calculate cost of goods sold.
C. Determine Hampton's net income.

Reference no: EM13587586

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