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Problem
In managerial accounting, how do I compute cost of goods manufactured?
Materials used in product
$130,000
Advertising expense
$47,190
Depreciation on plant
70,550
Property taxes on plant
17,040
Property taxes on store
7,840
Delivery expense
25,760
Labor costs of assembly-line workers
114,410
Sales commissions
44,670
Factory supplies used
27,070
Salaries paid to sales clerks
51,750
Work in process inventory was $14,600 at January 1 and $17,270 at December 31. Finished goods inventory was $65,300 at January 1 and $47,580 at December 31.
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