Cost flow relationships
The following information is available for the first month of operations of Enders Company, a manufacturer of mechanical pencils:
|
Sales |
$630,000 |
|
Gross profit |
370,000 |
|
Cost of goods manufactured |
315,000 |
|
Indirect labor |
84,000 |
|
Factory depreciation |
22,000 |
|
Materials purchased |
164,000 |
|
Total manufacturing costs for the period |
362,000 |
|
Materials inventory |
22,000 |
Using the above information, determine the following missing amounts:
a. Cost of goods sold
b. Finished goods inventory
c. Direct materials cost
d. Direct labor cost
e. Work in process inventory