Cost of goods sold, profit margin, and net income for a manufacturing company The following…

Cost of goods sold, profit margin, and net income for a manufacturing company The following information is available for Vega Manufacturing Company for the month ending July 31, 2012:

Cost of   goods manufactured

$270,000

Selling   expenses

58,000

Administrative   expenses

46,000

Sales

515,000

Finished   goods inventory, July 1

66,000

Finished   goods inventory, July 31

62,000

For the month ended July 31, 2012, determine Vega’s (a) cost of goods sold, (b) gross profit, and (c) net income.

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