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uysha [10]
2 years ago
5

The following information is available for the first year of operations of Engle Inc., a manufacturer of fabricating equipment:

Business
1 answer:
Zina [86]2 years ago
5 0

Answer:

A. $5,820,000

B. $4,425,000

C. $1,130,000

Explanation:

<u>A. Cost of goods sold.</u>

<em>Cost of goods sold = Sales - Gross Profit</em>

                                = $7,270,000 - $1,450,000

                                = $5,820,000

<u>B. Direct materials cost.</u>

<em>Direct materials cost = Material Purchases - Ending Material Inventory - Indirect Materials</em>

                                   = $5,100,000 - $480,000 - $195,000

                                   = $4,425,000

<u>C. Direct labor cost.</u>

<em>Direct labor cost = Total Manufacturing Cost - Indirect labor - indirect materials - direct materials - other factory overheads</em>

                            = $6,170,000 - $330,000 - $195,000 - $4,425,000 - $90,000

                            = $1,130,000

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