Chapter $16$ Homework

Cost Flow Relationships

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

Sales

Gross profit

Indirect labor

Indirect materials

Other factory overhead

Materials purchased

Total manufacturing costs for the period

Materials inventory, end of period

$$978,700$

$264,200$

$88,100$

$36,200$

$16,600$

$499,100$

$1,080,500$

$36,200$

This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.

Open spreadsheet

Using the above information, determine the following amounts:

a$.$ Cost of goods sold

$

b$.$ Direct materials cost

$