Cook Co. reports the following information for 2011.

Cook Co. reports the following information for 2011.

Cook Co. reports the following information for 2011.

Sandpaper $10,000 Direct labor $680,000
Small tools 100,000 Materials inventory, Jan 1 120,000
Coolants & lubricants 7,000 Materials inventory, Dec 31 86,000
Machine helpers’ salaries 86,000 Materials purchased 980,000
Finished goods, Jan 1 10,000 Sales 4,000,000
Finished goods, Dec 31 400,000 Work-in-process, Jan 1 30,000
Leasing costs, plant 120,000 Work-in-process, Dec 31 20,000
Depreciation, plant 70,000 Sales Commissions 200,000
Property taxes, equipment 10,000 Insurance, factory equipment 5,000
Sales salaries 180,000 Advertising costs 150,000
Office administration costs 250,000 Units completed 82,000

Determine the following for Cook Co. for 2011:

Cost of Goods Manufactured

Cost of Goods Sold

Unit Cost

Net Income (Loss)(assuming a 30% tax bracket).

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