The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils:

Cost Flow Relationships The following information is available for the first month of operations of Lane Inc., a manufacturer of mechanical pencils: Sales $421,230 Gross profit 245,580 Indirect labor 91,410 Indirect materials 45,710 Other factory overhead 13,900 Materials purchased 129,740 Total manufacturing costs for the period 242,210 Materials inventory, end of period 17,270 Using the above information, determine the following: a. Cost of goods sold: b. Direct materials cost: c. Direct labor cost: Feedback 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 direct materials cost. c. Direct materials + direct labor + factory overhead = total manufacturing costs