The Enrique Company recorded the following transactions for February 20x1:

Sales were $560,000, with sales prices determined by adding a 40% markup to the firm's manufacturing cost. The total cost of direct materials used, direct labor, and manufacturing overhead during the month was $285,000.
Note: The materials account includes both direct materials and indirect materials.
Required:

Calculate the missing values.

Question

The Enrique Company recorded the following transactions for February 20x1:
  
Sales were $560,000, with sales prices determined by adding a 40% markup to the firm's manufacturing cost. The total cost of direct materials used, direct labor, and manufacturing overhead during the month was $285,000.
Note: The materials account includes both direct materials and indirect materials.
Required:

Calculate the missing values.

Quizplus · Accepted Answer

The Answer of The Enrique Company recorded the following transactions for February 20x1:
  
Sales were $560,000, with sales prices determined by adding a 40% markup to the firm's manufacturing cost. The total cost of direct materials used, direct labor, and manufacturing overhead during the month was $285,000.
Note: The materials account includes both direct materials and indirect materials.
Required:

Calculate the missing values.

The Enrique Company Recorded the Following Transactions for February 20x1