Cost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: $819,700 221,300 73,800 30,300 13,900 418,000 904,900 30,300 Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following missing amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Cost Flow Relationships
The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment:
$819,700
221,300
73,800
30,300
13,900
418,000
904,900
30,300
Sales
Gross profit
Indirect labor
Indirect materials
Other factory overhead
Materials purchased
Total manufacturing costs for the period
Materials inventory, end of period
Using the above information, determine the following missing amounts:
a. Cost of goods sold
b. Direct materials cost
c. Direct labor cost
Transcribed Image Text:Cost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: $819,700 221,300 73,800 30,300 13,900 418,000 904,900 30,300 Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following missing amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
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