please answer both parts in excel with formula The Horizon Cable Manufacturing Company incurred the following costs whilemanufacturing its high voltage cables for SMUD and Washington Public Power.Materials used in productDepreciation on plantProperty taxes on store$ 114,00042,0003,750Labor costs assembly-line workers 96,365Factory supplies used17,250Advertising expenseProperty taxes on plantDelivery expenseSales commissions$36,00011,92011,00021,000Salaries paid to sales clerks 19,000Work-in-process inventory was $26,500 at January 1 and $15,500 at December 31.Finished goods inventory was $45,800 at January 1 and $51,300 at December 31.Instructions(a) Compute the cost of goods manufactured for Horizon Cable Company.(b) Compute the cost of goods sold for the company.

Lets understand the basics. Cost of goods manufactured is a cost for manufacturing goods. On other…

The Horizon Cable Manufacturing Company incurred the following costs while manufacturing its high voltage cables for SMUD and Washington Public Power. Materials used in product Depreciation on plant Property taxes on store $ 114,000 42,000 3,750 Labor costs assembly-line workers 96,365 Factory supplies used 17,250 Advertising expense Property taxes on plant $36,000 11,920 11,000 21,000 Salaries paid to sales clerks 19,000 Delivery expense Sales commissions Work-in-process inventory was $26,500 at January 1 and $15,500 at December 31. Finished goods inventory was $45,800 at January 1 and $51,300 at December 31.

The Horizon Cable Manufacturing Company incurred the following costs while manufacturing its high voltage cables for SMUD and Washington Public Power. Materials used in product Depreciation on plant Property taxes on store $ 114,000 42,000 3,750 Labor costs assembly-line workers 96,365 Factory supplies used 17,250 Advertising expense Property taxes on plant $36,000 11,920 11,000 21,000 Salaries paid to sales clerks 19,000 Delivery expense Sales commissions Work-in-process inventory was $26,500 at January 1 and $15,500 at December 31. Finished goods inventory was $45,800 at January 1 and $51,300 at December 31.

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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