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please answer asap! Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product $ 90,000 Advertising expense $45,000 Depreciation on plant
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Glavine Corporation incurred the following costs while manufacturing its product. Materials used in product $ 90,000 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 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 $22,000 at January 1 and $15,500 at December 31, Finished goods inventory was $65,000 at January 1 and $55,600 at December 31. Factory supplies used 23,000 Salaries paid to sales cerca 50.000 Work-in-process inventory was $22,000 at January 1 and $15.500 at December 31 Finished goods inventory was 565,000 at January 1 and 555,600 December 31 NOTE: NOT ALL COSTS LISTED ABOVE WILL BE USED. PERIOD COSTS ARE NOT INCLUDED IN THESE CALCULATIONS. ALSO, CALCULATION FOR ENDING RAW MATERIALS INVENTORY NOT NECESSARY Instructions Instructions (part a) Compute cost of goods manufactured (no adjustment for overapplied or underapplied overhead is necessary). (part b) Compute cost of goods sold. For the toolbar, pro ALT F10 (PG) OF ALT. EN F10 M) Step by Step Solution
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