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Bravo Company manufactures quality gentlemen's clothing. The following selected financial information for the fiscal year 2016 is provided

Price:
$14.99
SKU:
703222


Product Description

Bravo Company manufactures quality gentlemen's clothing.  The following selected financial information for the fiscal year 2016 is provided:

Item

Amount Sales $100,000

Cost of Goods Manufactured 85,000

Direct Material Purchased 40,000

Factory Overhead 10,000

Work in Process - January 1 30,000

Work in Process - December 31 15,000

Direct Material - December 31 10,000

Finished Goods Inventory - December 31 60,000

Net Income 15,000

Direct Materials used 30,000

Cost of Goods Sold 45,000

Use this information to prepared Bravo's Income Statement for FY 2016. Include a detailed Cost of Goods Sold section within this income statement: (Round dollar values & enter as whole dollars only.)

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