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Unformatted text preview: Work in process, beginning 156,050 Less: Work in process, ending (140,400) Total Cost of Goods Manufactured 1,207,300 Monroe Manufacturing Income Statement For the Period Ended March 31, 2008 Net Sales 1,781,100 Less: Cost of Goods Sold: Finished goods, beginning 208,050 Plus: Cost of Goods Manufactured 1,207,300 Goods available for sale 1,415,350 Less: Finished goods, ending (270,100) Total Cost of goods sold' (1,145,250) Gross Margin 635,850 Less: Selling and administrative expenses 254,000 Income before income taxes 381,850 Income Taxes 152,740 Net Income 229,110...
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This note was uploaded on 06/09/2008 for the course ACC 221 taught by Professor Tribunella during the Spring '08 term at Rochester.
- Spring '08