The following information pertains to Yuji Corporation Costs
The following information pertains to Yuji Corporation:

Costs incurred during the year 2014 were as follows:
Raw material purchased $116,000
Wages to factory workers 55,000
Salary to factory supervisors 25,000
Salary to selling and administrative staff 40,000
Depreciation on factory building and equipment 10,000
Depreciation on office building 12,000
Utilities for factory building 5,000
Utilities for office building 7,500

Sales revenue during 2014 was $300,000. The income tax rate is 40%. Compute the following:
1. Cost of raw materials used.
2. Cost of goods manufactured/completed.
3. Cost of goods sold.
4. Gross margin.
5. Netincome.
Membership TRY NOW
  • Access to 800,000+ Textbook Solutions
  • Ask any question from 24/7 available
  • Live Video Consultation with Tutors
  • 50,000+ Answers by Tutors
Relevant Tutors available to help