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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