Owe Crane Corporation incurred the following costs while manufacturing its product:Materials used in productDepreciation on plantProperty taxes on warehouseLabour costs of assembly-line workersFactory supplies used(a)$120,800Calculate the cost of goods manufactured.Cost of goods manufactured$62,0008,310110,60025,200Advertising expenseProperty taxes on plantDelivery expenseSales commissionsSalaries paid to sales clerks$45,35019,100Work in process inventory was $10,100 at January 1 and $14,100 at December 31. Finished goods inventory was $60,700 at January1 and $50,800 at December 31.21,00035.30050,100

The term COGM (cost of goods manufactured) refers to a schedule or statement that lists all…

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

Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter1: Introduction To Managerial Accounting

Section: Chapter Questions

Problem 4E: For apparel manufacturer Abercrombie Fitch, Inc. (ANF), classify each of the following costs as...

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