Cost Flow Relationships
The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items:
| Sales |
$1,337,200 |
| Gross profit |
361,000 |
| Indirect labor |
120,300 |
| Indirect materials |
49,500 |
| Other factory overhead |
22,700 |
| Materials purchased |
682,000 |
| Total manufacturing costs for the period |
1,476,300 |
| Materials inventory, end of period |
49,500 |
Factory overhead was applied during the year. Using the above information, determine the following missing amounts:
a. Cost of goods sold
b. Direct materials cost
c. Direct labor cost