(Answered) Problem - perry company incurred the following costs while

Accounting

Problem - Perry Company incurred the following costs while manufacturing its product.

Materials used in product $120,000 Advertising expense $45,000

Depreciation on plant 60,000 Property taxes on plant 14,000

Property taxes on store 7,500 Delivery expense 21,000

Labor costs of assembly-line Sales commissions 35,000

Workers 110,000 Salaries paid to sales

Factory supplies used 23,000 clerks 50,000

Worked in process inventory was $12,000 at January 1 and $15,500 at December 31. Finished goods inventory was $60,000 at January 1 and $45,600 at December 31.

a. Compute cost of goods manufactured.

b. Compute cost of goods sold.

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