Homework Answers
The formula to calculate the COGM is:
Add: Direct Materials Used
Add: Direct Labor Used
Add: Manufacturing Overhead
Add: Beginning Work in Process (WIP) Inventory
Deduct: Ending Work in Process (WIP) Inventory
= COGM
Material used in product 125000
add:Deprecciation on palnt 60000
add:Factory supply used 23000
add:Labour cost of asswmbly line workers 110000
add:property tax on store 7500
add:property tax on plant 19000
add:begining work in process inventory 27000
less:ending work in process inventory 15500
cost of goods
manufactored 356000
Add Answer to:
Compute cost of goods manufactured.
Glavine Corporation incurred the following costs while manufacturing its product. Materials...
Question 20 Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product...
Question 20 Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $125,000 60,000 7,500 110,000 23,000 45,000 19,000 21,000 35,000 50,000 Work-in-process inventory was $27,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50,600 at December...
Compute cost of goods E14.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its...
Compute cost of goods E14.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its product. manufactured and sold. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,000 Salaries paid to sales clerks 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods...
Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials...
Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $120,000 Advertising expense 60,000 Property taxes on plant 7,500 Delivery expense 110,000 Sales commissions 23,000 Salaries paid to sales clerks $45,000 14.000 21,000 35,000 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January...
*Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials...
*Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $120,000 Advertising expense 60,000 Property taxes on plant 7,500 Delivery expense 110,000 Sales commissions 23,000 Salaries paid to sales clerks $45,000 14,000 21,000 35,000 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January...
Hollywood Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000. Advertising...
Hollywood Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000. Advertising expense $45,000. Depreciation on plant $60,000. Property taxes on plant $19,000. Property taxes on store $7,500. Delivery expense - sales $21,000. Labour costs of assembly line workers $110,000. Sales commission $35,000. Salaries paid to sales clerks Factory supplies used $25,000. $50,000. Work in process inventory was $10,000 on January 1 and $14,000 at December 31. Finished goods inventory was $60,000 at Jahuary 1 and...
12.30 (LO 4) Sinjay Corporation incurred the following costs while manufacturing its product H AI CUNUS...
12.30 (LO 4) Sinjay Corporation incurred the following costs while manufacturing its product H AI CUNUS Materials used in product Depreciation on plant Property taxes on warehouse Labour costs of assembly-line workers Factory supplies used $120,000 60,000 7,500 110,000 25,000 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,000 19,000 21,000 35,000 50,000 Work in process inventory was $10,000 at January 1 and $14,000 at December 31. Finished goods inven- tory was $60,000...
Hollywood Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000. Advertising...
Hollywood Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000. Advertising expense $45,000. Depreciation on plant $60,000. Property taxes on plant $19,000. Property taxes on store $7,500. Delivery expense $21,000. Labour costs of assembly line workers $110,000. Sales commission $35,000. Factory supplies used $25,000. Salaries paid to sales clerks $50,000. Work in process inventory was $10,000 on January 1 and $14,000 at December 31. Finished goods inventory was $60,000 at January 1 and $50,600 at December...
Managerial Accounting E15-8 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in...
Managerial Accounting
E15-8 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line Sales commissions 35,000 workers 110,000 Salaries paid to sales Factory supplies used 23,000 clerks 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and...
E14-8 Compute cost of goods manufactured and sola. (LO 5, 6), AP Lopez Corporation incurred the...
E14-8 Compute cost of goods manufactured and sola. (LO 5, 6), AP Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $45,000 60,000 Property taxes on plant 14,000 21,000 35,000 23,000 Salaries paid to sales clerks 50,000 $120,000 Advertising expense 7,500 Delivery expense 110,000 Sales commissions Work in process inventory was $12,000 at January 1 and $15,500 at December 31....
..1 T-Mobile LTE 1:18 PM E1.8 (LO 3), AP Lopez Corporation incurred the following costs while...
..1 T-Mobile LTE 1:18 PM E1.8 (LO 3), AP Lopez Corporation incurred the following costs while manufacturing its product. Compute cost of goods manufactured and sold. Materials used in product $120,000 Advertising expense $45,000 Depreciatio non plant Property taxes on plant 60,000 14,000 Property taxes on store Delivery expense 7,500 21,000 Labor costs of assembly-li ne workers Sales commissio ns 110,000 35,000 Factory supplies used Salaries paid to sales clerks 23,000 50,000 Work in process inventory was $12,000 at January...
Question 20 Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $125,000 60,000 7,500 110,000 23,000 45,000 19,000 21,000 35,000 50,000 Work-in-process inventory was $27,000 at January 1 and $15,500 at December 31. Finished goods inventory was $65,000 at January 1 and $50,600 at December...
Compute cost of goods E14.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its product. manufactured and sold. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line workers 110,000 Sales commissions 35,000 Factory supplies used 23,000 Salaries paid to sales clerks 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods...
Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $120,000 Advertising expense 60,000 Property taxes on plant 7,500 Delivery expense 110,000 Sales commissions 23,000 Salaries paid to sales clerks $45,000 14.000 21,000 35,000 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January...
*Exercise 10-8 (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $120,000 Advertising expense 60,000 Property taxes on plant 7,500 Delivery expense 110,000 Sales commissions 23,000 Salaries paid to sales clerks $45,000 14,000 21,000 35,000 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January...
Hollywood Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000. Advertising expense $45,000. Depreciation on plant $60,000. Property taxes on plant $19,000. Property taxes on store $7,500. Delivery expense - sales $21,000. Labour costs of assembly line workers $110,000. Sales commission $35,000. Salaries paid to sales clerks Factory supplies used $25,000. $50,000. Work in process inventory was $10,000 on January 1 and $14,000 at December 31. Finished goods inventory was $60,000 at Jahuary 1 and...
12.30 (LO 4) Sinjay Corporation incurred the following costs while manufacturing its product H AI CUNUS Materials used in product Depreciation on plant Property taxes on warehouse Labour costs of assembly-line workers Factory supplies used $120,000 60,000 7,500 110,000 25,000 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,000 19,000 21,000 35,000 50,000 Work in process inventory was $10,000 at January 1 and $14,000 at December 31. Finished goods inven- tory was $60,000...
Managerial Accounting
E15-8 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $120,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on plant 14,000 Property taxes on store 7,500 Delivery expense 21,000 Labor costs of assembly-line Sales commissions 35,000 workers 110,000 Salaries paid to sales Factory supplies used 23,000 clerks 50,000 Work in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and...
E14-8 Compute cost of goods manufactured and sola. (LO 5, 6), AP Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $45,000 60,000 Property taxes on plant 14,000 21,000 35,000 23,000 Salaries paid to sales clerks 50,000 $120,000 Advertising expense 7,500 Delivery expense 110,000 Sales commissions Work in process inventory was $12,000 at January 1 and $15,500 at December 31....
..1 T-Mobile LTE 1:18 PM E1.8 (LO 3), AP Lopez Corporation incurred the following costs while manufacturing its product. Compute cost of goods manufactured and sold. Materials used in product $120,000 Advertising expense $45,000 Depreciatio non plant Property taxes on plant 60,000 14,000 Property taxes on store Delivery expense 7,500 21,000 Labor costs of assembly-li ne workers Sales commissio ns 110,000 35,000 Factory supplies used Salaries paid to sales clerks 23,000 50,000 Work in process inventory was $12,000 at January...
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