The selected amounts that follow were taken from Hawk Corporation's accounting records:

Raw materials used	$	26,000
Direct labor		34,000
Total manufacturing costs		124,000
Work-in-process inventory, Jan. 1		21,500
Cost of Goods Manufactured		120,000
Cost of goods available for sale		200,000
Finished goods inventory, Dec. 31		65,000
Sales revenue		330,000
Selling and administrative expenses		130,000
Income tax expense		18,500

Required: Compute the following: A. Manufacturing overhead. B. Work-in-process inventory, 12/31. C. Finished-goods inventory, 1/1. D. Cost of goods sold. E. Gross margin. F. Net income.

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Alright lets compute the requested items based on the information provided A Manufacturing Overhead ... View the full answer