The following information is available for the first year of operations of Idgie Inc., a manufacturer of fabricating equipment: Sales $1,150,100 310,500 Gross profit Indirect labor 103,500 Indirect materials 42,600 Other factory overhead 19,600 Materials purchased 586,600 Total manufacturing costs for the period 1,269,700 Materials inventory, end of period 42,600 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet. Using the above information, determine the following amounts: a. Cost of goods sold 839,600 b. Direct materials cost 501,400 264,400 X c. Direct labor cost.

The following information is available for the first year of operations of Idgie Inc., a manufacturer of fabricating equipment: Sales $1,150,100 310,500 Gross profit Indirect labor 103,500 Indirect materials 42,600 Other factory overhead 19,600 Materials purchased 586,600 Total manufacturing costs for the period 1,269,700 Materials inventory, end of period 42,600 This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below. X Open spreadsheet. Using the above information, determine the following amounts: a. Cost of goods sold 839,600 b. Direct materials cost 501,400 264,400 X c. Direct labor cost.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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