Question

Bramble Corporation incurred the following costs while manufacturing its product. Materials used in product $128,900 Advertising expense $55,800 Depreciation on plant 63,400 Property taxes on plant 23,100 Property taxes on store 8,280 Delivery expense 24,800 Labor costs of assembly-line workers 114,800 Sales commissions 43,600 Factory supplies used 32,100 Salaries paid to sales clerks 60,400 Work in process inventory was $14,200 at January 1 and $16,900 at December 31. Finished goods inventory was $63,300 at January 1 and $48,200 at December 31.

(a) Your answer is correct. Compute cost of goods manufactured. Cost of goods manufactured $ Click if you would like to Show Work for this question: Open Show Work SHOW SOLUTION SHOW ANSWER LINK TO TEXT Attempts: 1 of 3 used

(b) Compute cost of goods sold. Cost of goods sold $

Answer 1

(a) Cost of goods manufactured = Beginning work in process + Direct materials used + Direct labor + Depreciation on plant + Factory supplies used + Property taxes on plant - Ending work in process

Cost of goods manufactured = $14,200 + $128,900 + $114,800 + $63,400 + $32,100 + $23,100 - $16,900

Cost of goods manufactured = $359,600

(b) Cost of goods sold = Beginning finished goods + Cost of goods manufactured - Ending finished goods

Cost of goods sold = $63,300 + $359,600 - $48,200

Cost of goods sold = $374,700