The Horizon Cable Manufacturing Company incurred the following costs while manufacturing and selling its high voltage...

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The Horizon Cable Manufacturing Company incurred the following costs while manufacturing and selling its high voltage cables to SMUD and Washington Public Power. Direct Materials used $ 114,000 Advertising expense $36,000 Depreciation on plant 7,300 Property taxes on plant 4,900 Property taxes on store 3,750 Delivery expense 11,000 Labor costs assembly-line workers 57,920 Sales commissions 21,000 Factory supplies used 10,180 Salaries paid to sales clerks 19,000 Work-in-process inventory was $14,800 at January 1 and $25,700 at December 31. Finished goods inventory was $48,900 at January 1 and $54,710 at December 31. Instructions (a) Compute the cost of goods manufactured for Horizon Cable Company. (b) Compute the cost of goods sold for the company. The Horizon Cable Manufacturing Company incurred the following costs while manufacturing and selling its high voltage cables to SMUD and Washington Public Power. Direct Materials used $ 114,000 Advertising expense $36,000 Depreciation on plant 7,300 Property taxes on plant 4,900 Property taxes on store 3,750 Delivery expense 11,000 Labor costs assembly-line workers 57,920 Sales commissions 21,000 Factory supplies used 10,180 Salaries paid to sales clerks 19,000 Work-in-process inventory was $14,800 at January 1 and $25,700 at December 31. Finished goods inventory was $48,900 at January 1 and $54,710 at December 31. Instructions (a) Compute the cost of goods manufactured for Horizon Cable Company. (b) Compute the cost of goods sold for the company.

Answer rating: 100% (QA)

a Cost of Goods Manufactured Direct materials used 114000 Direct labor 57... View the full answer