Business, 09.09.2019 18:30 2002babygurl

The following information was extracted from the accounting records of pickin’ and grinnin’, llc, a manufacturer of guitars: beginning raw materials inventory $375,000 ending raw materials inventory $435,000 direct factory labor $185,000 indirect factory labor $ 35,000 factory utilities $ 44,000 selling, general, and administrative expenses $125,000 building depreciation* $300,000 *70% of the building is devoted to production, 30% of the building is devoted to selling and administrative functions. $440 comma 546 in direct materials were purchased during the period. raw materials inventory consists solely of direct material. there was a $47 comma 476 net increase in the company’s work in process inventories during the year. the company's beginning and ending finished goods inventories were $475,000 and $450,000, respectively. based solely on the above information, what is the company's gross profit for the period assuming sales revenue totaled $1 comma 449 comma 436?

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