Solution-Compute the cost of goods manufactured

Compute the cost of goods manufactured

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Reference no: EM131786397

Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product	$115,270	Advertising expense	$43,600
Depreciation on plant	57,090	Property taxes on plant	17,960
Property taxes on store	7,090	Delivery expense	21,470
Labor costs of assembly-line workers	114,860	Sales commissions	39,260
Factory supplies used	22,150	Salaries paid to sales clerks	54,310

Work in process inventory was $10,040 at January 1 and $12,700 at December 31. Finished goods inventory was $61,130 at January 1 and $53,740 at December 31.

Compute the cost of goods manufactured:

Compute the cost of goods sold:

Reference no: EM131786397

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Compute the cost of goods manufactured

Reference no: EM131786397

Reference no: EM131786397

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