The following information is available for the first month of operation of Makin' It., a manufacturer of
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Question:
The following information is available for the first month of operation of Makin' It., a manufacturer of arts and craft items:
Sales - $375,000
Gross Profit - $120,000
Indirect labor - $30,000
Indirect materials - $15,000
Another factory overhead - $5,000
Materials purchased - $200,000
Total manufacturing costs for the period - $300,000
Materials inventory, end of period $25,000
Prompts submit answers
cost of goods sold?
direct materials cost?
direct labor cost?
Related Book For
Accounting
ISBN: 978-0324662962
23rd Edition
Authors: Jonathan E. Duchac, James M. Reeve, Carl S. Warren
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