The Clear Reception Antenna Company incurred the following costs while manufacturing its High Gain Long Distance Television Antenna, rated a Best Buy in Consumer Reports.

Materials used in product $ 115,320 Advertising expense $24,000

Depreciation on plant 23,000 Property taxes on plant 6,800

Property taxes on online store 2,510 Delivery expense 11,000

Labor costs assembly-line workers 101,850 Sales commissions 39,450

Factory supplies used 10,815 Salaries paid to clerks 21,875

Work-in-process inventory was $27,940 at January 1 and $19,300 at December 31. Finished goods inventory was $25,130 at January 1 and $31,210 at December 31.

Instructions

(a) Compute the cost of goods manufactured for Clear Reception Antenna Company.

(b) Compute the cost of goods sold for the company.

Note: be sure to show your calculations for both part a. and b. in a well-organized presentation.

Answer rating: 100% (QA)

Clear Reception Antenna company Schedule of cost of goods m... View the full answer