Question
Whispering Winds Corp. incurred the following costs while manufacturing its product. Materials used in product$130,300Advertising expense$55,200Depreciation on plant62,500Property taxes on plant24,300Property taxes on store8,270Delivery expense26,100Labor
Whispering Winds Corp. incurred the following costs while manufacturing its product.
Materials used in product$130,300Advertising expense$55,200Depreciation on plant62,500Property taxes on plant24,300Property taxes on store8,270Delivery expense26,100Labor costs of assembly-line workers116,100Sales commissions38,100Factory supplies used34,000Salaries paid to sales clerks59,300
Work in process inventory was $14,400at January 1 and $17,600at December 31. Finished goods inventory was $61,100at January 1 and $48,500at December 31.
Compute cost of goods manufactured.
Cost of goods manufactured$
Compute cost of goods sold.
Cost of goods sold$
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Income Tax Fundamentals 2013
Authors: Gerald E. Whittenburg, Martha Altus Buller, Steven L Gill
31st Edition
1111972516, 978-1285586618, 1285586611, 978-1285613109, 978-1111972516
