Answered

Get the answers you need from a community of experts on IDNLearn.com. Discover prompt and accurate answers from our experts, ensuring you get the information you need quickly.

ost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: Sales $1,326,700 Gross profit 358,200 Indirect labor 119,400 Indirect materials 49,100 Other factory overhead 22,600 Materials purchased 676,600 Total manufacturing costs for the period 1,464,700 Materials inventory, end of period 49,100 Using the above information, determine the following missing amounts: a. Cost of goods sold $fill in the blank 1 b. Direct materials cost $fill in the blank 2 c. Direct labor cost $fill in the blank 3

Sagot :

Answer and Explanation:

The computation is shown below

a . The cost of goods sold is

= Sales - cost of goods sold

= $1,326,700 - $358,200

= $968,500

b. The direct material cost is

= Material purchased - ending inventory - indirect materials

= $676,600 - $49,100 - $49,100

= $578,400

c, The direct labor cost is

= Total manufacturing overhead cost - other factory overhead - direct material cost - indirect material - indirect labor

= $1,464,700 - $22,600 - $578,400 - $49,100 - $119,400

= $695,200

We greatly appreciate every question and answer you provide. Keep engaging and finding the best solutions. This community is the perfect place to learn and grow together. IDNLearn.com has the answers you need. Thank you for visiting, and we look forward to helping you again soon.