Reference no: EM132726550
Question - Cost Flow Relationships
The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils:
Sales $271,990
Gross profit 158,570
Indirect labor 59,020
Indirect materials 29,510
Other factory overhead 8,980
Materials purchased 83,770
Total manufacturing costs for the period 156,390
Materials inventory, end of period 11,150
Required - Using the above information, determine the following:
a. Cost of goods sold:
b. Direct materials cost:
c. Direct labor cost:
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