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Sunland Corporation incurred the following costs while manufacturing its product. Materials used in product $ 124,900 Advertising expense $ 50,200 Depreciation on plant 66,100 Property taxes on plant 16,000 Property taxes on store 8,290 Delivery expense 25,600 Labor costs of assembly-line workers 120,700 Sales commissions 44,100 Factory supplies used 32,700 Salaries paid to sales clerks 55,100 Work in process inventory was $ 13,000 at January 1 and $ 17,600 at December 31. Finished goods inventory was $ 69,500 at January 1 and$ 48,900 at December 31. Compute cost of goods manufactured. Cost of goods manufactured 2$ Compute cost of goods sold. Cost of goods sold 2$

Sunland Corporation incurred the following costs while manufacturing its product. Materials used in product $ 124,900 Advertising expense $ 50,200 Depreciation on plant 66,100 Property taxes on plant 16,000 Property taxes on store 8,290 Delivery expense 25,600 Labor costs of assembly-line workers 120,700 Sales commissions 44,100 Factory supplies used 32,700 Salaries paid to sales clerks 55,100 Work in process inventory was $ 13,000 at January 1 and $ 17,600 at December 31. Finished goods inventory was $ 69,500 at January 1 and$ 48,900 at December 31. Compute cost of goods manufactured. Cost of goods manufactured 2$ Compute cost of goods sold. Cost of goods sold 2$

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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I need help answering for cost of goods manufactured and the cost of goods sold

Sunland Corporation incurred the following costs while manufacturing its product. Materials used in product $ 124,900 Advertising expense $ 50,200 Depreciation on plant 66,100 Property taxes on plant 16,000 Property taxes on store 8,290 Delivery expense 25,600 Labor costs of assembly-line workers 120,700 Sales commissions 44,100 Factory supplies used 32,700 Salaries paid to sales clerks 55,100 Work in process inventory was $ 13,000 at January 1 and $ 17,600 at December 31. Finished goods inventory was $ 69,500 at January 1 and $ 48,900 at December 31. Compute cost of goods manufactured. Cost of goods manufactured Compute cost of goods sold. Cost of goods sold $
Transcribed Image Text:Sunland Corporation incurred the following costs while manufacturing its product. Materials used in product $ 124,900 Advertising expense $ 50,200 Depreciation on plant 66,100 Property taxes on plant 16,000 Property taxes on store 8,290 Delivery expense 25,600 Labor costs of assembly-line workers 120,700 Sales commissions 44,100 Factory supplies used 32,700 Salaries paid to sales clerks 55,100 Work in process inventory was $ 13,000 at January 1 and $ 17,600 at December 31. Finished goods inventory was $ 69,500 at January 1 and $ 48,900 at December 31. Compute cost of goods manufactured. Cost of goods manufactured Compute cost of goods sold. Cost of goods sold $
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