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Determine the direct materials cost

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Reference no: EM131793377

Question - The following information is available for the first month ofoperations of Korv Inc., a manufacturer of art and craft items:

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

Using the above information, determine the followingmissing amounts:

a. Cost of goods sold

b. Direct materials cost

c. Direct labor cost

Reference no: EM131793377

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