Wildhorse Corporation incurred the following costs while manufacturing its product. Materials used in product $127,700 Advertising expense $48,000 Depreciation on plant 63,100 Property taxes on plant 15,000 Property taxes on store 7,740 Delivery expense 25,000 Labor costs of assembly-line workers 116,700 Sales commissions 36,000 Factory supplies used 29,600 Salaries paid to sales clerks 58,100 Work in process inventory was $14,700 at January 1 and $17,400 at December 31. Finished goods inventory was $63,200 at January 1 and $45,900 at December 31. (a) Compute cost of goods manufactured. Cost of goods manufactured $
Wildhorse Corporation incurred the following costs while manufacturing its product. Materials used in product $127,700 Advertising expense $48,000 Depreciation on plant 63,100 Property taxes on plant 15,000 Property taxes on store 7,740 Delivery expense 25,000 Labor costs of assembly-line workers 116,700 Sales commissions 36,000 Factory supplies used 29,600 Salaries paid to sales clerks 58,100 Work in process inventory was $14,700 at January 1 and $17,400 at December 31. Finished goods inventory was $63,200 at January 1 and $45,900 at December 31. (a) Compute cost of goods manufactured. Cost of goods manufactured $
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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