Problem
In managerial accounting, how do I compute cost of goods manufactured?
|
Materials used in product
|
$130,000
|
Advertising expense
|
$47,190
|
|
Depreciation on plant
|
70,550
|
Property taxes on plant
|
17,040
|
|
Property taxes on store
|
7,840
|
Delivery expense
|
25,760
|
|
Labor costs of assembly-line workers
|
114,410
|
Sales commissions
|
44,670
|
|
Factory supplies used
|
27,070
|
Salaries paid to sales clerks
|
51,750
|
Work in process inventory was $14,600 at January 1 and $17,270 at December 31. Finished goods inventory was $65,300 at January 1 and $47,580 at December 31.