Tutorial 8 - Managerial Accounting - Wordzatimxiz@gmail.comFileMailingsViewHelpO Tell me what you want to do& ShareHomeInsertDesignLayoutReferencesReviewX CutP Find -Tahoma11- A AAa -AaBbCcDc AaBbCcDc AaBbC AaBbCcC AaB AaBbccC AqBbCcDE Copyab. ReplacePasteBIU - abe x, xA - aly ,I NormalI No Spac. Heading 1 Heading 2TitleSubtitleSubtle Em..Format PainterA Select -ClipboardFontParagraphStylesEditingQUESTION 2E19.8 (Pg. 19-31)E19.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing itsproduct.Compute cost of goods manufactured and sold.Materials used inproductDepreciation on plant$120,000Advertising$45,000expense60,000Property taxes onplantDelivery expense14.000Property taxes onstoreLabor costs ofassembly-line workersFactory supplies used7,50021.000110,000Sales35,000commissionsSalaries paid tosales clerks23.00050.000Work 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 $45,600 at December 31.Instructions•a. Compute cost of goods manufactured.•b. Compute cost of goods sold.Page 1 of 4940 wordsEnglish (Malaysia)90%12:19 PMP Type here to search4)) ENG3/1/2021

All the expenses related to manufacturing including factory expenses are included in Cost of goods…

QUESTION 2 E19.8 (Pg. 19-31) E19.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its product. Compute cost of goods manufactured and sold. Materials used in $120,000 Advertising $45,000 product Depreciation on plant expense Property taxes on plant Delivery expense 60,000 14,000 Property taxes on store Labor costs of assembly-line workers Factory supplies used 7,500 21,000 110,000 Sales commissions 35,000 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 inventory was $60,000 at January 1 and $45,600 at December 31. Instructions •a. Compute cost of goods manufactured. •b. Compute cost of goods sold.

QUESTION 2 E19.8 (Pg. 19-31) E19.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its product. Compute cost of goods manufactured and sold. Materials used in $120,000 Advertising $45,000 product Depreciation on plant expense Property taxes on plant Delivery expense 60,000 14,000 Property taxes on store Labor costs of assembly-line workers Factory supplies used 7,500 21,000 110,000 Sales commissions 35,000 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 inventory was $60,000 at January 1 and $45,600 at December 31. Instructions •a. Compute cost of goods manufactured. •b. Compute cost of goods sold.

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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Concept explainers

Pricing

Pricing is used as a term in finance and economics, pricing is the process of fixing a value for a product or a service. Pricing establishes a value for a product or service that the customer has to pay. A business can choose from different strategies while deciding to set prices.

Question

Tutorial 8 - Managerial Accounting - Word
zatimxiz@gmail.com
File
Mailings
View
Help
O Tell me what you want to do
& Share
Home
Insert
Design
Layout
References
Review
X Cut
P Find -
Tahoma
11
- A A
Aa -
AaBbCcDc AaBbCcDc AaBbC AaBbCcC AaB AaBbccC AqBbCcD
E Copy
ab. Replace
Paste
BIU - abe x, x
A - aly ,
I Normal
I No Spac. Heading 1 Heading 2
Title
Subtitle
Subtle Em..
Format Painter
A Select -
Clipboard
Font
Paragraph
Styles
Editing
QUESTION 2
E19.8 (Pg. 19-31)
E19.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its
product.
Compute cost of goods manufactured and sold.
Materials used in
product
Depreciation on plant
$120,000
Advertising
$45,000
expense
60,000
Property taxes on
plant
Delivery expense
14.000
Property taxes on
store
Labor costs of
assembly-line workers
Factory supplies used
7,500
21.000
110,000
Sales
35,000
commissions
Salaries paid to
sales clerks
23.000
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 1 and $45,600 at December 31.
Instructions
•a. Compute cost of goods manufactured.
•b. Compute cost of goods sold.
Page 1 of 4
940 words
English (Malaysia)
90%
12:19 PM
P Type here to search
4)) ENG
3/1/2021

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