Cost Flow Relationships The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils: Sales Gross profit Indirect labor Indirect materials Other factory overhead Materials purchased Total manufacturing costs for the period Materials inventory, end of period Using the above information, determine the following: a. Cost of goods sold: b. Direct materials cost c. Direct labor cost: $513,470 299,350 111,420 55,710 16,940 158,150 295,250 21,050 214,120 81,390 196,920 |