The following events took place for Focault Inc. during July 20Y2, the first month of operations as a producer of road bikes: - Purchased $399,560 of materials - Used $342,540 of direct materials in production - Incurred $290,100 of direct labor wages - Applied factory overhead at a rate of 73% of direct labor cost - Transferred $818,820 of work in process to finished goods - Sold goods with a cost of $796,000 - Sold goods for $1,400,110 - Incurred $313,290 of selling expenses - Incurred $125,090 of administrative expenses Labels For the Month Ended July 31, 20Y2 July 31 , 20Y2 Selling and administrative expenses Amount Descriptions Cost of goods sold Factory overhead Gross profit Income from operations Materials Revenues Selling expenses Administrative expenses Total selling and administrative expenses