The following information is available for the first month of operations of Url

Question

The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items:

Sales $1,200,000
Gross Profit $320,000
Indirect labor $110,000
Indirect materials $45,000
Other Factory overhead $20,000
Materials Purchased $610,000
Total manufacturing costs for the period $1,325,000
Materials inventory, end of period $45,000

Using the above information, determine the following:
a. Cost of goods sold
$
b. Direct materials cost
$
c. Direct labor cost
$

Can you explain how you get these?

Explanation / Answer

let every thing be in hte unit of 1000 dollars profit = seling price - cost of manufacturing cost of manufacturing = selling proce - profit all types of cost = selling price - profit 110+45+20+61+132+45 +X = 1200-320 X = 1200-(320 + 110+45+20+61+132+45 ) = 467000 dollars

Related Questions

Navigate

• Browse (All)
• Browse T
• Subjects

---

---

Integrity-first tutoring: explanations and feedback only — we do not complete graded work. Learn more.