Current Attempt in Progress Novak Corporation incurred the following costs while manufacturing its product. Materials used...
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Current Attempt in Progress Novak Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,200 Property taxes on store 7,500 Delivery expense 20,800 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,400 Salaries paid to sales clerks 50,000 Work in process inventory was $12,100 at January 1 and $15,400 at December 31. Finished goods inventory was $60,000 at January 1 and $45,500 at December 31. (a) Compute cost of goods manufactured. Cost of goods manufactured CA $ Current Attempt in Progress Novak Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,200 Property taxes on store 7,500 Delivery expense 20,800 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,400 Salaries paid to sales clerks 50,000 Work in process inventory was $12,100 at January 1 and $15,400 at December 31. Finished goods inventory was $60,000 at January 1 and $45,500 at December 31. (a) Compute cost of goods manufactured. Cost of goods manufactured CA $
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Cost of Goods Manufactured COGM The cost of goods manufactured COGM represents the total costs incur... View the full answer
Related Book For
Managerial Accounting Tools for Business Decision Making
ISBN: 978-1118856994
4th Canadian edition
Authors: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso, Ibrahim M. Aly
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