1. The Corporation incurred the following costs in manufacturing its product:

Materials used in the product $121,500 Advertising expenses $45,400

Plant depreciation 62,400 Plant property taxes 19,300

Property tax on deposit 8,400 Delivery cost 21,000

Labor costs of assembly line workers 110,700 Sales commissions 35,100

Used factory supplies 25,000 Salaries paid to sales employees 50,600

Work-in-process inventory was $10,000 as of January 1 and $14,300 as of December 31. Finished goods inventory was $60,600 on January 1 and $51,100 on December 31.

Calculate the cost of manufactured goods.

2.The Company reported the following costs and expenses in May:

Factory profit $25,300 Direct labor $91,000

Factory equipment depreciation 22,650 Sales wages 54,600

Delivery truck depreciation 6,600 Property taxes on factory construction 2,670

Indirect factory labor 56,300 Office equipment repairs 2,900

Indirect materials 89,600 Factory repair 3,000

Direct materials used 144,800 Advertising 26,000

Factory Manager Salary 19,100 Used Office Supplies 5,790

Determine the total amount of product costs.

Answer rating: 100% (QA)

To calculate the cost of manufactured goods we need to add up all the costs incurred in manufacturin... View the full answer