Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory
Question:
Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $45,600 at December 31.
Compute cost of goods manufactured.
Cost of goods manufactured
Compute cost of goods sold.
Cost of goods sold
Transcribed Image Text:
Materials used in product $120,000Advertising expense $45,000 Property taxes on plant Depreciation on plant Property taxes on store Labor costs of assembly- 60.000 14,000 7,500 Delivery expense 21,000 line workers 110,000 Sales commissions 35,000 Salaries paid to sales clerks Factory supplies used 23,000 50,000
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Related Book For
Managerial Accounting
ISBN: 978-1259307416
16th edition
Authors: Ray Garrison, Eric Noreen, Peter Brewer
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