Question 8 Lopez Corporation Incurred The Following Costs While Manufacturing Its Product. Materials Used In Product Advertising Expense $126,900 $50,000 Depreciation On Plant 70,600 Property Taxes On Plant 23,000 Property Taxes On Store 8,360 Delivery Expense 25,800 Labor Costs Of Assembly-Line Workers Sales Commissions 119,600 36,500 Factory Supplies Used

 

 

 

Question 8 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product $126,900 Advertising expense $50,000 Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used 119,600 25,000 70,600 Property taxes on plant 8,360 Delivery expense Sales commissions 23,000 25,800 36,500 Salaries paid to sales clerks 59,600 Work in process inventory was $14,600 at January 1 and $16,800 at December 31. Finished goods inventory was $69,000 at January 1 and $49,900 at December 31. Compute cost of goods manufactured. Cost of goods manufactured Compute cost of goods sold. Cost of goods sold