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Sinjay Corporation incurred the following costs while manufacturing its product: Materials used in product $122,000 Advertising expense $45,000 Depreciation on plant 62,200 Property taxes on
Sinjay Corporation incurred the following costs while manufacturing its product:
Materials used in product | $122,000 | Advertising expense | $45,000 | ||||
Depreciation on plant | 62,200 | Property taxes on plant | 19,050 | ||||
Property taxes on warehouse | 7,560 | Delivery expense | 21,200 | ||||
Labour costs of assembly-line workers | 110,600 | Sales commissions | 35,450 | ||||
Factory supplies used | 25,900 | Salaries paid to sales clerks | 50,700 |
Work in process inventory was $10,300 at January 1 and $14,800 at December 31. Finished goods inventory was $60,700 at January 1 and $51,500 at December 31.
(a)
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Calculate the cost of goods manufactured.
Cost of goods manufactured | $ |
Attempts: 1 of 1 used
(b)
Calculate the cost of goods sold.
Cost of goods sold | $ |
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