Question

Exercise 1-8 Lopez Corporation incurred the following costs while manufacturing its product. $48,30 Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $126,00 Adve 20. Advertising expense 65,900 Property taxes on plant 8,030 Delivery expense 115,200 Sales commissions Salaries paid to sales clerks 23,500 30,200 37,200 55,400 Work in process inventory was $14,400 at January 1 and $17,400 at December 31. Finished goods inventory was $64,000 at January 1 and $45,900 at December 31. a. Compute cost of goods manufactured. Show work. b. Compute cost of goods sold. Show work.

Answer 1

particulars a calculation of cost of goods manufactured Amt in (8) sused in poroduct, it ;126,000 pour costs of assembly line workers 45,200 ; Fadby overheadsinin bir ustanovi - dep on plant and white 65,900 - property taxes on plant 23500 - Factory supplies used 32,200 Add work in progress Begining 14, 400 Less; work in progress closing to (17,400) ! Sur Cost of goods manufactured on to 359,800 x 359,800 ot them and on - b) calculation of cost of goods sold rrachilar cimet. particulars B Ant Amt . 64,000... Finished goods Beginning Cost of goods manufactured in Less; closing finished croods. tja 64,000 359800 145,900) cost of goods sold 377.900

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