Question - Cost flow relationships
The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items:
|
Sales
|
$1,011,800
|
|
Gross profit
|
273,200
|
|
Indirect labor
|
91,100
|
|
Indirect materials
|
37,400
|
|
Other factory overhead
|
17,200
|
|
Materials purchased
|
516,000
|
|
Total manufacturing costs for the period
|
1,117,000
|
|
Materials inventory, end of period
|
37,400
|
Using the above information, determine the following missing amounts:
a. Cost of goods sold
b. Direct materials cost
c. Direct labor cost