Homework Answers
Solution A:
Cost of goods sold = Sales - Gross profit
= 7270000 - 1450000 = $5,820,000
Solution B:
Direct materials cost = Materials purchased - Material inventory end of period
= 5100000 - 480000 = $4,620,000
Solution C:
Direct labor cost = Total Manufacturing cost - Materials cost - Overhead
= 6170000 - 4620000-(330000+195000+90000)
= $935,000
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