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Gates Manufacturing reports based on an October 31 fiscal year. As a part of your interview for a cost analyst position, the interviewer provides you
Gates Manufacturing reports based on an October 31 fiscal year. As a part of your interview for a cost analyst position, the interviewer provides you with the following information:
Direct materials purchases | $ 96,000 |
---|---|
Work-in-process inventory, November 1 | 68,000 |
Finished goods inventory, November 1 | 45,800 |
Finished goods inventory, October 31 | 46,800 |
Manufacturing overhead | 72,600 |
Cost of goods sold | 436,475 |
Direct labor | 45,400 |
Increase in work-in-process inventory | 43,000 |
Average sales price per unit | 20 |
Gross margin percentage | 35% |
Required:
Find the cost of goods manufactured.
Find the total manufacturing costs.
Find the direct materials used.
Find the sales revenue.
Note: Round your answer to the nearest whole dollar.
Find the increase (decrease) in direct materials inventory.
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