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Crane Corporation incurred the following costs while manufacturing its product: Materials used in product Depreciation on plant Property taxes on warehouse $120,800 Advertising expense 62,000 Property taxes on plant Delivery expense 8,310 $45,350 19,100 21,000

Crane Corporation incurred the following costs while manufacturing its product: Materials used in product Depreciation on plant Property taxes on warehouse $120,800 Advertising expense 62,000 Property taxes on plant Delivery expense 8,310 $45,350 19,100 21,000

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Crane Corporation incurred the following costs while manufacturing its product: Materials used in product Depreciation on plant Property taxes on warehouse Labour costs of assembly-line workers Factory supplies used (a) $120,800 Calculate the cost of goods manufactured. Cost of goods manufactured $ 62,000 8,310 110,600 25,200 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,350 19,100 Work in process inventory was $10,100 at January 1 and $14,100 at December 31. Finished goods inventory was $60,700 at January 1 and $50,800 at December 31. 21,000 35.300 50,100
Transcribed Image Text:Crane Corporation incurred the following costs while manufacturing its product: Materials used in product Depreciation on plant Property taxes on warehouse Labour costs of assembly-line workers Factory supplies used (a) $120,800 Calculate the cost of goods manufactured. Cost of goods manufactured $ 62,000 8,310 110,600 25,200 Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks $45,350 19,100 Work in process inventory was $10,100 at January 1 and $14,100 at December 31. Finished goods inventory was $60,700 at January 1 and $50,800 at December 31. 21,000 35.300 50,100
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