Cost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: Sales $7,270,000 Gross profit 1,450,000 Indirect labor 330,000 Indirect materials 195,000 Other factory overhead 90,000 Materials purchased 5,100,000 Total manufacturing costs for the period 6,170,000 Materials inventory, end of period 480,000 Using this information, determine the following missing amounts: a. Cost of goods sold $ b. Direct materials cost $ c. Direct labor cost $
Cost Flow Relationships The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment: Sales $7,270,000 Gross profit 1,450,000 Indirect labor 330,000 Indirect materials 195,000 Other factory overhead 90,000 Materials purchased 5,100,000 Total manufacturing costs for the period 6,170,000 Materials inventory, end of period 480,000 Using this information, determine the following missing amounts: a. Cost of goods sold $ b. Direct materials cost $ c. Direct labor cost $
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter2: Basic Cost Management Concepts
Section: Chapter Questions
Problem 22E: Ellerson Company provided the following information for the last calendar year: During the year,...
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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:
Sales | $7,270,000 |
Gross profit | 1,450,000 |
Indirect labor | 330,000 |
Indirect materials | 195,000 |
Other factory overhead | 90,000 |
Materials purchased | 5,100,000 |
Total |
6,170,000 |
Materials inventory, end of period | 480,000 |
Using this information, determine the following missing amounts:
a. Cost of goods sold | $ |
b. Direct materials cost | $ |
c. Direct labor cost | $ |
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