Evaluate missing amounts: COGS, direct material costs, direct labor costs
Using this information, determine the following missing amounts: (Please show calculations)
a. Cost of goods sold
b. Direct materials costs
c. Direct labor costs
Sales $775,000
Gross Profit 265,000
Indirect labor 63,000
Indirect materials 32,000
Other factory overhead 17,500
Materials purchased 303,000
Total manufacturing costs for the period 620,000
Materials inventory, end of period 35,000