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Andrew Brusnahan
Need help with an accounting problem.?
Hi Folks,
I am having trouble with a problem from my managerial accounting class. I would love to get some help on it as I just cannot seem to figure it out:
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The following information is available for the first month of operations of Enders Company, a manufacturer of mechanical pencils:
Sales: $630,000
Gross Profit: $370,000
Cost of Goods Manufactured: $315,000
Indirect Labor: $84,000
Factory Depreciation: $22,000
Total Manufacturing Costs for the Period: $362,000
Materials Inventory: $22,000
Using the above information, determine the following missing amounts:
a. Cost of Goods Sold
b. Finished Goods Inventory
c. Direct Materials Cost
d. Direct Labor Cost
e. Work In Process Inventory
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I think I have "a" and "c" figured out. I think "a" is $260,000 and "c" is $186,000.
Any help or guidance on this problem would be much appreciated.
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