Based on the following data, what is the net income for the
company?
Sales $1,000,000
Net purchases of raw materials 600,000
Cost of goods manufactured 800,000
Marketing and administrative expenses 250,000
Indirect manufacturing costs 500,000
Beginning
Inventory
Ending Inventory
Work-in-process $500,000
$400,000
Finished goods 100,000
400,000
a. 350,000
b. 500,000
c. 250,000
d. 150,000