Pena Corporation incurred the following costs while manufacturing its product. Work in process inventory was $12,000 at

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Pena Corporation incurred the following costs while manufacturing its product.

Pena Corporation incurred the following costs while manufacturing its product.

Work in process inventory was $12,000 at January 1 and $15,500 at December 31.
Finished goods inventory was $60,000 at January 1 and $55,600 at December 31.
Instructions
(a) Compute cost of goods manufactured.
(b) Compute cost of goodssold.

Corporation
A Corporation is a legal form of business that is separate from its owner. In other words, a corporation is a business or organization formed by a group of people, and its right and liabilities separate from those of the individuals involved. It may...
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Managerial Accounting Tools for business decision making

ISBN: 978-0470477144

5th edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso

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