Solution-Compute cost of goods manufactured

Compute cost of goods manufactured

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Reference no: EM13507451

Pena Corporation incurred the following costs while manufacturing its product.

Materials used in product	$102,000	Advertising expense	$48,000
Depreciation on plant	67,000	Property taxes on plant	24,000
Property taxes on store	8,500	Delivery expense	24,000
Labor costs of assembly-line workers	115,000	Sales commissions	45,000
Factory supplies used	29,000	Salaries paid to sales clerks	53,000

Work-in-process inventory was $14,000 at January 1 and $17,500 at December 31. Finished goods inventory was $69,000 at January 1 and $56,800 at December 31.

Compute the following:

Cost of goods manufactured	$
Cost of goods sold	$

Reference no: EM13507451

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Compute cost of goods manufactured

Reference no: EM13507451

Reference no: EM13507451

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