Question - Lopez Corporation incurred the following costs while manufacturing its product.
|
Materials used in product
|
$121,200
|
Advertising expense
|
$55,530
|
|
Depreciation on plant
|
65,200
|
Property taxes on plant
|
22,150
|
|
Property taxes on store
|
8,380
|
Delivery expense
|
27,830
|
|
Labor costs of assembly-line workers
|
114,670
|
Sales commissions
|
45,720
|
|
Factory supplies used
|
24,290
|
Salaries paid to sales clerks
|
58,080
|
Work in process inventory was $14,060 at January 1 and $17,540 at December 31. Finished goods inventory was $64,520 at January 1 and $48.270 at December 31.
Compute cost of goods manufactured.