Cook Co. reports the following information for 2011.
| Sandpaper | $10,000 | Direct labor | $680,000 |
| Small tools | 100,000 | Materials inventory, Jan 1 | 120,000 |
| Coolants & lubricants | 7,000 | Materials inventory, Dec 31 | 86,000 |
| Machine helpers’ salaries | 86,000 | Materials purchased | 980,000 |
| Finished goods, Jan 1 | 10,000 | Sales | 4,000,000 |
| Finished goods, Dec 31 | 400,000 | Work-in-process, Jan 1 | 30,000 |
| Leasing costs, plant | 120,000 | Work-in-process, Dec 31 | 20,000 |
| Depreciation, plant | 70,000 | Sales Commissions | 200,000 |
| Property taxes, equipment | 10,000 | Insurance, factory equipment | 5,000 |
| Sales salaries | 180,000 | Advertising costs | 150,000 |
| Office administration costs | 250,000 | Units completed | 82,000 |
Determine the following for Cook Co. for 2011:
Cost of Goods Manufactured
Cost of Goods Sold
Unit Cost
Net Income (Loss)(assuming a 30% tax bracket).
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