Backyard Amenities Is A Manufacturer Of Backyard And Deck Furniture

Backyard Amenities is a manufacturer of backyard and deck furniture. Its products are in high demand, and it carries no inventory. To follow 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) …………………………………… $ 38,100
Stain (used in manufacturing furniture) …………………………………………………………. $ 14,500
Indirect labor costs (wages of maintenance workers in factory) ……………………….. $ 23,700
Other manufacturing overhead (includes factory insurance and property taxes)…. $ 11,300
Rent and utilities (for administrative offices) ………………………………………………….. $ 13,200
Utility costs (related to factory) ……………………………………………………………………. $ 12,100
Labor costs (wages of carpenters who build furniture) ……………………………………. $ 33,700
Accounts receivable …………………………………………………………………………………… $ 31,200
Marketing costs …………………………………………………………………………………………. $ 15,200
Wood (used in manufacturing furniture) ……………………………………………………….. $ 59,100
Sales revenues ……………………………………………………………………………………….. $ 267,000
Accounts payable ……………………………………………………………………………………….. $ 8,200
Requirements
Using the income statement accounts in the table, calculate:
1. Cost of goods sold. Hint: Cost of goods sold can be calculated by summing the total product costs since there is no inventory.
2. Operating expenses. Hint: Operating expenses are the company’s period costs.
3. Gross profit
4. Operating income

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