The Following Information Is Available for the First Month of Operations

The following information is available for the first month of operations for Bluemoon, Inc.: $\begin{array}{|l|r|}\hline \text { Sales } & \$ 850,000 \\\hline \text { Gross profit } & 330,000 \\\hline \text { Indirect labor } & 35,000 \\\hline \text { Indirect materials } & 14,000 \\\hline \text { Other factory overhead } & 9,000 \\\hline \text { Materials purchased } & 360,000 \\\hline \text { Total manufacturing costs } & 670,000 \\\hline \text { Materials inventory, end of period } & 20,000 \\\hline\end{array}$ ? Based on the information provided for Bluemoon, Inc., calculate the cost of goods sold.

A) $670,000
B) $418,000
C) $520,000
D) $650,000

Correct Answer:

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