McClintock Manufacturing Inc Required:
A $\$ 250000$ , Calculate Net Income for July

McClintock Manufacturing Inc.has the following information available for the month of July:
$\begin{array}{c}\begin{array}{l}\\ \text { Raw materials inventory}\\ \text { Work-in-process inventory}\\ \text { Finished goods inventory}\\\\ \text { Raw materials purchased}\\ \text { Direct labour costs}\\ \text { Overhead costs}\\\text { Selling and administrative costs }\end{array}\begin{array}{rr}\underline{\text { Beginning}}&\underline{\text { Ending }}\\\$ 12000 & \$ 8000 \\45000 & 55000 \\9000 & 11000 \\& \\& \$ 45000 \\& 80000 \\& 30000 \\& 20000 \end{array}\end{array}$

Required:
A. Calculate raw materials used for July.
B. Calculate cost of goods manufactured for July.
C. Calculate cost of goods sold for July.
D. Assume that sales revenue totalled $\$ 250000$ , calculate net income for July. (ignore taxes)