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The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items:
The following information is available for the first month of operations of Url Inc., a manufacturer of art and craft items:Sales - $1,200,000Gross Profit - $320,000Indirect Labor - 110,000Indirect materials- 45,000Other factory overhead - 20,000Materials purchased - 610,000Total manufacturing costs for the period - 1,325,000Materials Inventory, end of period - 45,000Using the above information, determine the following missing amounts:a. Cost of goods sold b. Direct materials cost c. Direct labor costThank you!so far I have A.a. COGS = 1,200,000 - 320,000 = 880,000b. DM cost = 610,000 - 45,000 = 565,000c. DL cost = 1,325,000 - 565,000 - 110,000 - 45,000 - 20,000 = 585,000Please tell me where I'm going wrong?
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