Cost Flow Relationships The following information is available for the first month of operations of Lane Inc., a manufacturer of art and craft items: Sales $750,000 Gross profit 240,000 Indirect labor 60,000 Indirect materials 30,000 Other factory overhead 10,000 Materials purchased 400,000 Total manufacturing costs for the period 600,000 Materials inventory, end of period 50,000 Using the above information, determine the following: a. Cost of goods sold: $fill in the blank 1 b. Direct materials cost: $fill in the blank 2 c. Direct labor cost: $fill in the blank 3

Miller company’s total sales are $171,000. the company’s direct labor cost is $20,520, which represents 30% of its total conversion cost and 40% of its total prime cost. its total selling and administrative expense is $25,650 and its only variable selling and administrative expense is a sales commission of 5% of sales. the company maintains no beginning or ending inventories and its manufacturing overhead costs are entirely fixed costs. required: 1. what is the total manufacturing overhead cost? 2. what is the total direct materials cost? 3. what is the total manufacturing cost? 4. what is the total variable selling and administrative cost? 5. what is the total variable cost? 6. what is the total fixed cost? 7. what is the total contribution margin?