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-> X C|@ A Q Remaining Time: 3 hours, 05 minutes, 15 seconds. Question Completion Status: Lopez Corporation incurred the following costs while manufacturing its
-> X C|@ A Q Remaining Time: 3 hours, 05 minutes, 15 seconds. Question Completion Status: Lopez Corporation incurred the following costs while manufacturing its product. Details $ Material used in products 20,000 Depreciation of plant 60,000 Property Taxes on store 7,500 Labour cost of assembly line workers 110,000 Factory supplies used 23,000 Advertising expense 45,000 Property tax on plant 14,000 Delivery expense 21,000 Sales commissions 35,000 Salaries paid to salesclerks 50,000 Beginning work in process inventory 15,000 Ending work in process inventory 15,500 Beginning finished goods inventory 60,000 Ending finished goods inventory 45,600 REQUIRED A. Prepare cost of goods manufactured statement. [7 marks] B. Calculate cost of goods sold. [5 marks]
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