Answered step by step
Verified Expert Solution
Question
1 Approved Answer
Blossom Corporation incurred the following costs while manufacturing its product. Materials used in product $155,000 Depreciation on factory 74,400 Property taxes on store 9,300 Labor
Blossom Corporation incurred the following costs while manufacturing its product.
Materials used in product
$155,000
Depreciation on factory 74,400
Property taxes on store
9,300
Labor costs of assembly-line workers
136,400
Factory supplies used
28,520
Advertising expense
55,800
Property taxes on factory 23,560
Delivery expense
26,040
Sales commissions
43,400
Salaries paid to sales clerks
62,000
Work in process inventory was $33,480 at January 1 and $19,220 at December 31. Finished goods inventory was $80,600 at January 1 and $62,700 at December 31. (Assume all raw materials used were direct materials.)
(a)
Compute cost of goods manufactured.
Cost of goods manufactured
$enter cost of goods manufactured in dollars
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started