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Coldplay Corporation incurred the following costs while manufacturing its product. Materials used in product $100,000 Advertising expense $45,000 Depreciation on plant 60,000 Property taxes on

Coldplay Corporation incurred the following costs while manufacturing its product.

Materials used in product $100,000

Advertising expense $45,000

Depreciation on plant 60,000

Property taxes on plant 14,000

Property taxes on store 7,500

Delivery expense 21,000

Labor costs of assembly-line workers 110,000

Sales commissions 35,000

Factory supplies used 23,000

Salaries paid to sales clerks 50,000 Work-in-process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $55,600 at December 31. Instructions (a) Compute cost of goods manufactured. (b) Compute cost of goods sold

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