Using the information below, calculate gross profit for the period:
beginning raw materials inventory$28,500
ending raw materials inventory 33,500
beginning work in process inventory 62,000
ending work in process inventory 71,000
beginning finished goods inventory 87,000
ending finished goods inventory 74,000
cost of goods sold for the period 575,000
sales revenues for the period 1,324,000
operating expenses for the period 267,000
a. $749,000.
b. $482,000.
c. $1,057,000.
d. $126,000.
e. $762,000.

Mesa company produces wooden rocking chairs. the company has two production departments, cutting and assembly. the wood is cut and sanded in cutting and then transferred to assembly to be assembled and painted. from assembly, the chairs are transferred to finished goods inventory and then are sold.mesa has compiled the following information for the month of february: cutting department assemblydepartmentdirect materials $ 73,000 $ 13,000direct labor 73,000 108,000applied manufacturing overhead 159,000 171,000cost of goods completed and transferred out 233,000 255,000required: 1, 2, 3, & 4. prepare journal entries for the transactions in the cutting and assembly departments of mesa company. (if no entry is required for a transaction/event, select "no journal entry required" in the first account field.)