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Cost flow relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales Gross profit
Cost flow relationships The following information is available for the first year of operations of Creston Inc., a manufacturer of fabricating equipment: Sales Gross profit Indirect labor $ 12,000,000 5,042,400 397,600 Indirect materials 174,500 Other factory overhead 785,500 Materials purchased 4,000,000 Total manufacturing costs for the period 7,641,200 Materials Inventory, end of period 281,200 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 Determine the following amounts. Round your answers to the nearest dollar. a. Cost of goods sold h Dirart matriske sma Determine the following amounts. Round your answers to the nearest dollar. a. Cost of goods sold b. Direct materials cost c. Direct labor cost Sales Gross profit Indirect labor DATA $12,000,000 5,042,400 397,600 Indirect materials 174,500 Other factory overhead 785,500 Materials purchased 4,000,000 Total manufacturing costs for the period 7,641,200 Materials inventory, end of period 281,200 Using formulas and cell references, perform the required analysis, and input your answers into the Amount column. Transfer the numeric results for the green entry cells (C18, C20, C22) into the appropriate fields in CNOWV2 for grading. a. Cost of goods sold b. Direct materials cost c. Direct labor cost Amount Formulas
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