Net income-total manufacturing costs added this period

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Reference no: EM131262356

The following information pertains to Mitchell, Inc.: Raw Materials-Beginning Inventory $ 10,400 Raw Materials-Ending Inventory 12,400 Work in Process-Beginning Inventory 10,600 Work in Process-Ending Inventory 8,000 Finished Goods-Beginning Inventory 16,000 Finished Goods-Ending Inventory 20,000 Material purchases 62,400 Factory overhead (actual & applied) 58,400 Cost of Goods Manufactured 164,000 Gross Profit 21,000 Selling & Administrative Expenses 7,000 Required: Calculate the following amounts: a) Net income ____________________ b) Total manufacturing costs added this period ____________________ c) Cost of Goods Sold ____________________ d) Sales ____________________ e) Direct materials____________________ f) Direct labor.

Reference no: EM131262356

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