Following are the Cost Statement particulars for Presley
Manufacturing Ltd.
Administrative expenses
$
60,000
Depreciation expense – Manufacturing equipment
$
50,000
Direct labor
$ 468,000
Manufacturing supplies expense
$
40,000
Indirect labor
$
36,000
Beginning inventories, January 1:
Direct materials
$
14,000
Work in process
$
20,000
Finished goods
$ 128,000
Ending inventories, December 31
Direct materials
$
44,000
Work in process
$
56,000
Finished goods
$
92,000
Direct materials purchases
$ 216,000
Rent expense – Factory
$
28,000
Sales
$ 1,400,000
Selling expense
$
72,000
Other manufacturing overhead
$ 126,000
What is the Income from Operations for Presley Manufacturing
Ltd.?
Question 4 options:
$212,000
$334,000
$132,000
$186,000