Work in process inventory was 14310 at january 1 and 17020

Assignment Help Accounting Basics

Reference no: EM13578302

Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product	$127,450	Advertising expense	$54,830
Depreciation on plant	63,900	Property taxes on plant	24,550
Property taxes on store	7,650	Delivery expense	26,810
Labor costs of assembly-line workers	111,330	Sales commissions	42,410
Factory supplies used	28,550	Salaries paid to sales clerks	52,890

Work in process inventory was $14,310 at January 1 and $17,020 at December 31. Finished goods inventory was $66,100 at January 1 and $45,960 at December 31.

Compute cost of goods manufactured.

Compute cost of goods sold.

Reference no: EM13578302

Questions Cloud

Net income was 150000 in 2007 and 180000 in 2008 each : eagle franks and gordon formed a partnership on january 1 2007 with investments of 100000 150000 and 200000

The median property tax rate per 1 000 value for state a : the median property tax rate per 1 000 value for state a is 21 .42. a family is considering moving to state b and

Prepare a bank reconciliation for motts company as of april : the following information pertains to the bank transactions of motts companya. cash on the books as of april 30 was

At the 005 level of significance is there evidence that : question late payment of medical claims can add to the cost of health care. an article m. freudenheim the check is

Work in process inventory was 14310 at january 1 and 17020 : lopez corporation incurred the following costs while manufacturing its product. materials used in

If you test the null hypothesis at the 005 level of : question the glen valley steel company manufactures steel bars. if the production process is workingproperly it turns

What is the difference between significance level and a : what is the difference between significance level and a p-value? explain in

The offices 4 canon machines are expected to last 6 more : the lansing community college registrars office is considering replacing some canon copiers with faster copiers

Would you use the finite population correction factor in : to estimate the mean age for a population of 4000 employees a simple random sample of 40 employees is selected.a. would

User Account

All Pages