5-31 Straightforward Absorption Statement The Kerwin Company had the following data (in thousands) for a...
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5-31 Straightforward Absorption Statement The Kerwin Company had the following data (in thousands) for a given period: Sales Direct materials Direct labor Indirect manufacturing costs Selling and administrative expenses $780 180 230 210 130 There were no beginning or ending inventories. Compute the (1) manufacturing cost of goods sold, (2) gross profit, (3) operating income, and (4) conversion cost (total manufacturing cost less materials cost). 5-32 Straightforward Contribution Income Statement Masa, Ltd., had the following data (in millions of yen) for a given period
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