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Accounting Question

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Outdoor Amenities is a manufacturer of backyard and deck furniture. Its products are in high demand, and it carries no inventory. Following is a list of selected account balances from its trial balance for the most recent year ended December 31 (in no particular order.) Salaries and wages (for administrative and sales staff) ………………………………….. $ 37,400 Stain (used in manufacturing furniture) …………………………………………………………. $ 12,700 Indirect labor costs (wages of maintenance workers in factory) ……………………….. $ 21,300 Other manufacturing overhead (includes factory insurance and property taxes) ….. $ 9,800 Rent and utilities (for administrative offices) ………………………………………………….. $ 12,000 Utility costs (related to factory) ……………………………………………………………………. $ 11,200 Labor costs (wages of carpenters who build furniture) ……………………………………. $ 36,900 Accounts receivable …………………………………………………………………………………… $ 27,100 Marketing costs …………………………………………………………………………………………. $ 17,300 Wood (used in manufacturing furniture) ……………………………………………………….. $ 57,800 Sales revenues ……………………………………………………………………………………….. $ 255,000 Accounts payable ………………………………………………………………………………………… $ 7,100 Requirements Using the income statement accounts in the table, calculate: 1. Cost of goods sold. 2. Operating expenses. 3. Gross profit

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