Knick Knacks R Us is a manufacturer of art and craft items. Information for the first month of operations is as follows:
	Sales						850,000
	Indirect Labor						62,000
	Materials Purchased						315,000
	Gross Profit						235,000
	Indirect materials used						33,000
	Cost of Goods Manufactured						640,000
	Materials Inventory at end of first month						20,000
	Other factory overhead						13,500
	Work-in-Process inventory at end of first month						30,000
	All Beginning Inventories						0
	Direct Labor						?????
REQUIRED: Prepare the manufacturing statement required below using Excel and
answer the accompanying questions directly on your excel spreadsheet. Be sure to SHOW ALL WORK
so that your logic in answering the items can be followed (Items 3, 5, and 6). Be sure to number and
label your answers.
1	What was the amount of direct materials used?
2	What was the amount of direct labor cost?
3	What was the amount of total factory overhead?
4	Determine the amount of cost of goods sold (show all work).
5	Determine the amount of ending finished goods inventory (show all work).