Cost Flow Relationships The following information is available for the first month of operations of So Crafty Inc., a manufacturer of arts and craft items: Sales Gross profit Indirect labor Indirect materials Other factory overhead $348,720 203,300 75,670 37,840 11,510 107,410 200,510 14,300 Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following: a. Cost of goods sold: b. Direct materials cost: c. Direct labor cost:
Cost Flow Relationships The following information is available for the first month of operations of So Crafty Inc., a manufacturer of arts and craft items: Sales Gross profit Indirect labor Indirect materials Other factory overhead $348,720 203,300 75,670 37,840 11,510 107,410 200,510 14,300 Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following: a. Cost of goods sold: b. Direct materials cost: c. Direct labor cost:
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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