The following information is available for the first year of operations of Idgie Inc., a manufacturer...
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The following information is available for the first year of operations of Idgie Inc., a manufacturer of fabricating equipment: Sales $1,017,500 Gross profit 274,700 91,600 37,600 17,300 518,900 1,123,300 37,600 Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost The following information is available for the first year of operations of Idgie Inc., a manufacturer of fabricating equipment: Sales $1,017,500 Gross profit 274,700 91,600 37,600 17,300 518,900 1,123,300 37,600 Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following amounts: a. Cost of goods sold b. Direct materials cost c. Direct labor cost
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a Cost of goods sold Cost of goods sold Sales Gross profit Cost of goods sold 1017500 274700 Cost of goods sold 742800 b Direct materials cost Direct ... View the full answer
Related Book For
Financial And Managerial Accounting
ISBN: 9781337119207
14th Edition
Authors: Carl S. Warren, James M. Reeve, Jonathan Duchac
Posted Date:
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