=+2-39 K Interpretation of statements (continuation of 2-38) OBJECTIVE 5 Required 1 How would the answer to problem 2-38 be modified if you were asked for a schedule of cost of goods manufactured and sold instead of a schedule of cost of goods manufactured? Be specific.

2 Would the sales manager’s salary (included in marketing, distribution and customer service costs) be accounted for any differently if Hancock Ltd were a retail sector company instead of a manufacturing sector company? Using the flow of manufacturing costs outlined in Figure 2-9 (p. 44), describe how the wages of an assembly worker in the plant would be accounted for in this manufacturing company.