Solution-Figure out genmets net income for fiscal year

Figure out genmets net income for fiscal year

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Reference no: EM132430965

Question - The following data relates to GenMet for the fiscal year ending October 31, 2013.

Reported amounts are in millions of U.S. dollars ($).

	October 31, 2013	October 31, 2012
Raw Materials Inventory	$101.5	$73.7
Work-in-Process Inventory	119.1	100.8
Finished Goods Inventory	322.3	286.2

GenMet incurred manufacturing costs (direct material, direct labor, manufacturing over- head) during fiscal 2013 totaling $2,752.0. Sales revenue was $6,700.2, selling and administrative expenses were $2,903.7, and interest expense was $151.9. The income tax rate is 35%. Round arithmetic computations to one digit after the decimal point.

How do you figure out GenMet's net income for fiscal year 2013?

Reference no: EM132430965

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Figure out genmets net income for fiscal year

Reference no: EM132430965

Reference no: EM132430965

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