delvin corporation incurred the following costs while manufacturing its product 496758
Delvin Corporation incurred the following costs while manufacturing its product.
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delvin corporation incurred the following costs while manufacturing its product 496758
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Materials used in product 130,000 Advertising expense 49,000
Depreciation on plant 65,000 Property taxes on plant 16,000
Property taxes on administrative building 7,700 Delivery expense 20,000
Labor costs of assembly-line workers 112,000 Sales commissions 31,000
Factory supplies used 24,000 Salaries paid to sales clerks 58,000
Work-in-process inventory was $23,000 at January 1 and $15,800 at December 31. Finished goods inventory was $67,000 at January 1 and $52,600 at December 31.
Instructions
Prepare a cost of goods manufactured schedule and determine the amount of cost of goods sold.
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