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/ My Homeworks-20 × Microsoft word-XY D ' CUNY OneSearch ×e why Do You TmxyL w leyPLUS xe Chegg Study Gux G google translate × Montana nordstrom1-case- X c secure https://edugen.wileyplus.com/edugen/student/mainfr.uni WileyPLUS: MywileyPLUS I Hep I Contact Us 1 Loa Out WileyPLUS wyandt, Accounting Principles, 128 Principles of Accounting 12e (ACC 171/272) Home Read, Study & Practice Assignment Gradebook ORION Downloadable eTextbook Assignment> Open Assignment FULL SCREENPRINTER VERSION BACK Exercise 19-8 Lopez Corporation incurred the following costs while manufacturing its product. Materials used in product Depreciation on plant Property taxes on store Labor costs af assembly-line workers 119,S00 Sales commissions Factory supplies used Chapter 19 Exercise 19-7 $48,600 18,700 30,900 37,900 60,600 12,000 Advertising expense 67,300 Property taxes on plant 7,950 Delivery expense Review Score Review Results 26,500 Selaries paid to sales clerks Work in process inventory was $13,000 at January 1 and $17,100 at December 31. Finished goods inventory was $69,400 at January 1 and $48,200 at December 31. Compute cost of goods manufactured Cost of goods manufactured Compute cost of goods sold. Cost of goods sold By accessing this Question Assistance, you will learn while you earn points based on the Point Potential Policy set by your instructor Question Attempts: O of 3 usedSAVE FOR LATER SUBMIT ANSWER Version 4.24.2.4Explanation / Answer
Ans. 1 Cost of Goods Manufactured: 351900 *Calculation Material used in product 124000 Add: Labor costs of asembly-line workers 119500 Add: Depreciation on plant 67300 Add: Property taxes on plant 18700 Add: Factory supplies used 26500 Add: Opening WIP 13000 Less: Closing WIP -17100 COST OF GOODS MANUFACTURED 351900 Ans. 2 Cost of Goods Sold 373100 *Calculation Opening Finished Goods 69400 Add: Cost of Goods manufactured 351900 Less: Ending Finished Goods -48200 COST OF GOODS SOLD 373100
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