Question: Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. (1) (2) $ +A Direct Materials Used (3) eTextbook and

Presented below are incomplete manufacturing cost data. Determine the missing amounts for three different situations. (1) (2) $ +A Direct Materials Used (3) eTextbook and Media $43,800 $57,200 $ Direct Labor Used Factory Overhead $63,500 $51,600 $ $78,100 $144,000 Total Manufacturing Costs $300,000 $113,000 $314,000 Trak Corporation incurred the following costs while manufacturing its bicycles. Bicycle components $100,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 13,000 Salaries paid to sales clerks 50,000 (a) Identify each of the above costs as direct materials, direct labor, manufacturing overhead, or period costs. Bicycle components Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks > > > > Current Attempt in Progress Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $123,700 Advertising expense $48,000 Depreciation on plant 62,600 Property taxes on plant 17,800 Property taxes on store 7,700 Delivery expense 28,200 Labor costs of assembly-line workers 119,500 Sales commissions 40,600 Factory supplies used 26,200 Salaries paid to sales clerks 57,600 Work in process inventory was $14,600 at January 1 and $17,500 at December 31. Finished goods inventory was $62,700 at January 1 and $50,000 at December 31. (a) Compute cost of goods manufactured. Cost of goods manufactured $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!