Ask Experts Questions for FREE Help !
Ask
    Nikita_Marie's Avatar
    Nikita_Marie Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Apr 3, 2005, 07:55 PM
    Need help w/accounting

    Sales $710,000
    Gross Profit 220,000
    Indirect Labor 15,000
    Indirect Materials 25,000
    Other Factory Overhead 12,000
    Materials Purchased 180,000
    Total Maufacturing Costs for the Period 530,000
    Materials Inventory, End of Period 20,000

    Here's the question: What is the Direct Labor Cost? It says the answer is $343,000 but how do I find that? Also, is $490,000 right for Cost of Goods Sold? And is $135,000 correct for Direct Materials Cost? Thanks!! :o

    Confused in ND :confused:
    cartoonsmart's Avatar
    cartoonsmart Posts: 7, Reputation: 1
    New Member
    		  
    #2

    May 1, 2005, 07:21 AM
    If its still an issue
    Sales
    Less Gross Margin
    Equals GoGS (so you got that right! )

    As far as the other stuff goes just study the textbook schedule for GoGM, than you should find out that with the figures you got you can always incur the proper answers, now its may so you probably worked it out by now. If not mail me and I can provide you with a spreadsheet model to mess around with and see the relations between the figures

    Regards
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Accounting [ 2 Answers ]

Required: Using the direct method, convert the company’s income statement to a cash basis. December 31 2002 2001 Cash $ 4 7 Accounts Receivable 36 29 Inventory 75 61 Plant and equipment 210 180 Accumulated depreciation (40) ...

Accounting Help [ 1 Answers ]

1. On March 1, 2004 Leo leases and places in service a passenger automobile. The lease will run for five years and the payments are $380 per month. During 2004, he uses his car 80% for business and 20% for personal activities. Assuming the dollar amount from the IRS table is $19, determine...

Accounting help [ 11 Answers ]

Audry, age 38 and single, earned a salary of $59,000. She had interest income of $1,600 and had a $2,000 long-term capital loss from the sale of a stock investment. Audry incurred the following employment-related expenses during the year: Transportation $5,500 Meals 2,800 Lodging 4,200...

Accounting [ 2 Answers ]

How do I find the double decling-balance method. For my straight-line method I got At the beginning of the current year, Phoenix Company acquired an item of machinery for 160,000. The machinery had a life expectancy of four years an estimated salvage value of 16,000. For the straight-line...

View more questions Search