Practice Exercise 02 a-b (Part Level Submission) Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line $120,000 Advertising expense$45,000 60,000 Property taxes on plant 14,000 21,000 35,000 7,500 Delivery expense 110,000 Sales commissions 23,000 Salaries paid to sales workers Factory supplies used 000 clerks 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 $45,600 at December 31. Compute cost of goods manufactured. Cost of goods manufactured