Cost Flow Relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period $1,337,000 361,000 120,300 49,500 22,700 681,900 1,476,000 49,500 Using the above information, determine the following amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
Cost Flow Relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period $1,337,000 361,000 120,300 49,500 22,700 681,900 1,476,000 49,500 Using the above information, determine the following amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
Managerial Accounting
15th Edition
ISBN:9781337912020
Author:Carl Warren, Ph.d. Cma William B. Tayler
Publisher:Carl Warren, Ph.d. Cma William B. Tayler
Chapter2: Job Order Costing
Section: Chapter Questions
Problem 2E: The following information is available for the first year of operations of Creston Inc., a...
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![Cost Flow Relationships
The following information is available for the first year of
operations of Creston Inc., a manufacturer of fabricating
equipment:
Sales
Gross profit
Indirect labor
Indirect materials
Other factory overhead
Materials purchased
Total manufacturing costs for the period
Materials inventory, end of period
$1,337,000
361,000
120,300
49,500
22,700
681,900
1,476,000
49,500
Using the above information, determine the following
amounts:
a. Cost of goods sold
b. Direct materials cost
c. Direct labor cost](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fe8dbb38b-67db-4869-a2fb-b3f37c286b0c%2F33ace9f1-16f7-438d-a867-e474ffa5300a%2F02ng2ab_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Cost Flow Relationships
The following information is available for the first year of
operations of Creston Inc., a manufacturer of fabricating
equipment:
Sales
Gross profit
Indirect labor
Indirect materials
Other factory overhead
Materials purchased
Total manufacturing costs for the period
Materials inventory, end of period
$1,337,000
361,000
120,300
49,500
22,700
681,900
1,476,000
49,500
Using the above information, determine the following
amounts:
a. Cost of goods sold
b. Direct materials cost
c. Direct labor cost
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