B1. View PoliciesCurrent Attempt in ProgressKingbird Corporation incurred the following costs during 2022.Direct materials used in productDepreciation on factoryProperty taxes on storeLabor costs of assembly-line workersFactory supplies used(a)Compute cost of goods manufactured.$148,800Cost of goods manufactured i74,4009,300136.40029,400Advertising expenseProperty taxes on factoryDelivery expenseSales commissionsSalaries paid to sales clerks$55,800Work in process inventory was $15,100 at January 1 and $19,000 at December 31. Finished goods inventory was $74,400 at January1 and $56.300 at December 31.17,80025,60043,40062,000

Cost of goods manufactured includes all the costs which are incurred to produce the goods. It…

Kingbird Corporation incurred the following costs during 2022. Direct materials used in product Depreciation on factory Property taxes on store Labor costs of assembly-line workers Factory supplies used (a) $148.800 74,400 Compute cost of goods manufactured, 9,300 136,400 29,400 Advertising expense Property taxes on factory Delivery expense Sales commissions Salaries paid to sales clerks $55,800 17,800 25,600 43,400 Work in process inventory was $15,100 at January 1 and $19,000 at December 31. Finished goods inventory was $74,400 at January 1 and $56.300 at December 31. 62,000

Kingbird Corporation incurred the following costs during 2022. Direct materials used in product Depreciation on factory Property taxes on store Labor costs of assembly-line workers Factory supplies used (a) $148.800 74,400 Compute cost of goods manufactured, 9,300 136,400 29,400 Advertising expense Property taxes on factory Delivery expense Sales commissions Salaries paid to sales clerks $55,800 17,800 25,600 43,400 Work in process inventory was $15,100 at January 1 and $19,000 at December 31. Finished goods inventory was $74,400 at January 1 and $56.300 at December 31. 62,000

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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Subject- accounting
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