Reference no: EM133040853

Problem - Manufacturing Cost, COGS, Gross Margin, Operating Income - The following data (in thousands of dollars) have been taken from the accounting records of Karling Corporation for the year just ended.

Sales $990

Direct Materials Used $90

Direct labour $200

Manufacturing overhead $230

Administrative expenses $150

Selling expenses $140

Work-in-process inventory, beginning $70

Work-in-process inventory, ending $50

Finished goods inventory, beginning $120

Finished goods inventory, ending $160

Required -

a) Compute the Cost of Goods Manufactured.

b) Compute Cost of Goods Sold.

c) What is the Gross Margin for the Year?