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2 years ago

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:

A. Cost of goods sold.

Cost of goods sold = Sales - Gross Profit

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

= $5,820,000

B. Direct materials cost.

Direct materials cost = Material Purchases - Ending Material Inventory - Indirect Materials

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

= $4,425,000

C. Direct labor cost.

Direct labor cost = Total Manufacturing Cost - Indirect labor - indirect materials - direct materials - other factory overheads

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

= $1,130,000

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