E1-8 Lopez Corporation incurred the following costs while manufacturing its product.

Materials used in product $120,000 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 a