Fill in the Missing Data in the Profit and Loss

Essay

Fill in the missing data in the profit and loss statement below. $\begin{array}{llcc}&& \text { Dollars }& \text { Percent of Sales}\\ \text { Revenue } &&\$1,000,000&100\%\\ \text { Cost of Goods Sold } &\\ \text {Direct Material } &\$500,000\\ \text { Direct Labor} &\underline{\quad\quad}&&20\%\\ \text {Factory Overhead } &\$200,000&&20\%\\ \text {Total Cost of Goods } &&\underline{\$900,000}&90\%\\ \text { Bold } &\\ \text {Gross Profit } &&\$100,000&\underline{\quad\quad}\\\end{array}$