Done AA v2.cengagenow.com Ch. 10HW EX.10-07.Algo EX.10-14.Algo EX.10-24.Algo Cost Flow Relationships The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils: Sales $248,560 Gross profit 144,910 Indirect labor 53,940 Indirect materials 26,970 Other factory overhead 8,200 Materials purchased 76,560 Total manufacturing costs for the period 142,920 Materials inventory, end of period 10,190 Using the above information, determine the following: a. Cost of goods sold: b. Direct materials cost: c. Direct labor cost: $ x $ $ Feedback T Check My Work a. Sales minus cost of goods sold is equal to gross profit. b. Materials purchased less indirect materials and ending materials inventory is equal to dir