Question
Hollywood 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
Hollywood 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 | $19,000. |
Property taxes on store | $7,500. | Delivery expense | $21,000. |
Labour costs of assembly line workers | $110,000. | Sales commission | $35,000. |
Factory supplies used | $25,000. | Salaries paid to sales clerks | $50,000. |
Work in process inventory was $10,000 on January 1 and $14,000 at December 31. Finished goods inventory was $60,000 at January 1 and $50,600 at December 1.
Submit to the specific link a separate excel formal format spreadsheet for each of the questions below . Formal means top 3 lines - company name, schedule purpose and date of schedule.
In addition to the excel spreadsheets, please input your responses above in answering the following questions.
- What is the company's total manufacturing cost for the year? $
- What is the company's cost of goods manufactured for the year? $
3) What is company's cost of goods sold for the year? $
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