[ashnizzle]

Hey guys I'm just doing revision for my test and have come upon a question that I'm kind of stuck on. The question is

Advertising expense $215,000
Insurance, factory expense $8,000
Depreciation, sales equipment $40,000
Rent, factory building $90,000
Utilities, factory $52,000
Sales commissions $35,000
Cleaning supplies factory $6,000
Depreciation factory equipment $110,000
Selling and admin salaries $85,000
Maintenance factory $74,000
Direct labor ?
Purchases of raw materials $260,000



Raw materials opening $50,000
Raw materials end $40,000
WIP opening ?
WIP closing $33,000
Finished Goods opening $30,000
Finishes Goods closing ?

Total manufacturing costs for the year were $675,000; the goods available for sale totaled $720,000; and the cost of goods sold totaled $635,000

We got to prepare cost of goods manufactured and income statement

So far I've come up with direct labor as $197,000
WIP closing 33,000
Cost of Goods Manufactured $690000
Finished Goods closing $85,000
Total Selling and Admin expenses $507,000

Now I can't figure out the sales/revenue and the gross margin in the income statement.

[morgaine300]

For your test? Has it occurred to you the ethics involved in asking a bunch of people online about how to do YOUR test?

(Hmm... wondering what happens when the day comes when all our doctors and such are passing their classes this way.)