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  3. the company had the following data (in thousands)

The company had the following data (in thousands) for a given period: Sales...

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Accounting

The company had the following data (in thousands) for a given period:

Sales $800
Direct materials 250
Direct labor 200
Indirect manufacturing costs 140
Selling and administrative expenses 170

...

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Part 1

There were no beginning or ending inventories.

Requirement

1. Compute the (1) manufacturing cost of goods sold, (2) gross profit, (3) operating income, and (4) conversion cost (total manufacturing cost less materials cost).

(1) Determine the formula, then compute the manufacturing cost of goods sold.

+ + = Mfg. cost of goods sold
+ + =
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