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Compute cost of goods manufactured

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Reference no: EM13507451

Pena Corporation incurred the following costs while manufacturing its product.

Materials used in product $102,000
Advertising expense $48,000
Depreciation on plant 67,000
Property taxes on plant 24,000
Property taxes on store 8,500
Delivery expense 24,000
Labor costs of assembly-line workers 115,000
Sales commissions 45,000
Factory supplies used 29,000
Salaries paid to sales clerks 53,000

 

Work-in-process inventory was $14,000 at January 1 and $17,500 at December 31. Finished goods inventory was $69,000 at January 1 and $56,800 at December 31.

Compute the following:

Cost of goods manufactured $
Cost of goods sold $

 

Reference no: EM13507451

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