Question
Due Date: Wednesday, June 14 th by 11:59PM The Horizon Cable Manufacturing Company incurred the following costs during their operating year ended December 31, 2022.
Due Date: Wednesday, June 14th by 11:59PM
The Horizon Cable Manufacturing Company incurred the following costs during their operating year ended December 31, 2022. The company manufactures a weather resistant high power cable they sell to SMUD and Washington Public Power.
Raw materials purchased $ 114,000 Advertising expense $36,000
Depreciation on plant 42,000 Property taxes on plant 11,450
Property taxes on offices 3,750 Delivery expense 11,000
Labor costs assembly-line workers 196,365 Sales commissions 21,000
Factory supplies used 15,250 Salaries paid to sales staff 119,000
Additional Information for Inventories
Raw Materials Inventory was $13,850 on January 1st and $11,525 on December 31st.
Work-in-process inventory was $26,500 at January 1st and $15,500 at December 31st.
Finished goods inventory was $45,800 at January 1st and $51,300 at December 31st.
Instructions
(a) Compute the cost of goods manufactured for Horizon Cable Company.
(b) Compute the cost of goods sold for the company.
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