Cost Flow RelationshipsThe following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils:Sales$497,430Gross profit290,000Cost of goods manufactured248,720Indirect labor107,940Factory depreciation16,420Materials purchased153,210Total manufacturing costs for the period286,020Materials inventory, ending20,390Using the above information, determine the following missing amounts:a. Cost of goods sold$fill in the blank 1b. Finished goods inventory at the end of the month$fill in the blank 2c. Direct materials cost$fill in the blank 3d. Direct labor cost$fill in the blank 4e. Work in process inventory at the end of the month$fill in the blank 5

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Answered: Cost Flow Relationships The following…

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Cost Flow Relationships

The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils:

Sales	$497,430
Gross profit	290,000
Cost of goods manufactured	248,720
Indirect labor	107,940
Factory depreciation	16,420
Materials purchased	153,210
Total manufacturing costs for the period	286,020
Materials inventory, ending	20,390

Using the above information, determine the following missing amounts:

a. Cost of goods sold	$fill in the blank 1
b. Finished goods inventory at the end of the month	$fill in the blank 2
c. Direct materials cost	$fill in the blank 3
d. Direct labor cost	$fill in the blank 4
e. Work in process inventory at the end of the month	$fill in the blank 5