Cost Flow RelationshipsThe following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment:Sales$12,375,000Gross profit5,200,000Indirect labor410,000Indirect materials180,000Other factory overhead810,000Materials purchased4,125,000Total manufacturing costs for the period7,880,000Materials inventory, end of period290,000Using this information, determine the following amounts:a. Cost of goods soldb. Direct materials cost.c. Direct labor cost

Formulas:Cost of goods sold = Sales - Gross ProfitDirect materials cost = Materials Purchased -…

Answered: The following information is available…

The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales $12,375,000

Financial Accounting Intro Concepts Meth/Uses

14th Edition

ISBN:9781285595047

Author:Weil

Publisher:Weil

Chapter9: Working Capital

Section: Chapter Questions

Problem 20E

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