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erastovalidia [21]
3 years ago
9

Lopez Corporation incurred the following costs while manufacturing its product:

Business
1 answer:
mr Goodwill [35]3 years ago
6 0

Answer:

Cost of goods manufactured is $365,300

Explanation:

Particulars                                                Amount $

Materials used in product                       130,000

Labor costs of assembly-line workers    <u>120,900</u>

                                                                  250,900

Factory overheads

Depreciation on plant      64,500  

Property taxes on plant    20,000  

Factory supplies used      32,600

Add Work In Progress      14,000

Less: Work In Progress    -16,700                <u>114,400</u>

Cost of goods manufactured                   <u>$365,300</u>

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