E5-8 Coldplay Corporation incurred the following costs while manufacturing its p
ID: 2357192 • Letter: E
Question
E5-8 Coldplay Corporation incurred the following costs while manufacturing its product. Instructions (a) Compute cost of goods manufactured. (b) Compute cost of goods sold. Materials used in product: $100,000 = Depreciation on plant: 60,000 = Property taxes on store: 7,500 = Labor costs of assembly-line workers: 110,000 = Factory supplies used: 23,000 = Advertising expense: $45,000 = Property taxes on plant: 14,000 = Delivery expense: 21,000 = Sales commissions: 35,000 = Salaries paid to sales clerks: 50,000 =Explanation / Answer
Coldplay Corporation incurred the following costs while manufacturing its product. DM MOH Period DL MOH Materials used in product Depreciation on plant Property taxes on store Labor costs of assembly-line workers Factory supplies used $100,000 60,000 7,500 110,000 23,000 Work-in-process inventory was $12,000 at January 1 and $15,500 at December 31. F inventory was $60,000 at January 1 and $55,600 at December 31. Instructions (a)Compute cost of goods manufactured.
A DM used B DL used C MOH 100000 110000 97,000 Depreciation on plant Factory supplies used 23,000 Property taxes on plant A+B+C + - 60,000 14,000
Current manufacturing costs Beginning WIP Ending WIP COGM
(b)Compute cost of goods sold.
COGM + Beginning FGs Ending FGs COGS 307,000 12000 15500 60000 55600 e manufacturing its product.
Advertising expense Property taxes on plant Delivery expense Sales commissions Salaries paid to sales clerks
$45,000 14,000 21,000 35,000 50,000 $15,500 at December 31.
Finished goods ember 31.
303,500+ 303500= 307900 ANSWER
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