Lopez Corporation incurred the following costs while manufacturing its product. Materials used...
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Accounting
Lopez Corporation incurred the following costs while manufacturing its product.
Materials used in product
$126,900
Advertising expense
$50,000
Depreciation on plant
70,600
Property taxes on plant
23,000
Property taxes on store
8,360
Delivery expense
25,800
Labor costs of assembly-line workers
119,600
Sales commissions
36,500
Factory supplies used
25,000
Salaries paid to sales clerks
59,600
Work in process inventory was $14,600 at January 1 and $16,800 at December 31. Finished goods inventory was $69,000 at January 1 and $49,900 at December 31.
(a)
Compute cost of goods manufactured.
Cost of goods manufactured
$
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