Tutorial 8 - Managerial Accounting - Wordzatimxiz@gmail.comFileMailingsViewHelpO Tell me what you want to do& ShareHomeInsertDesignLayoutReferencesReviewX CutP Find -Tahoma11- A AAa -AaBbCcDc AaBbCcDc AaBbC AaBbCcC AaB AaBbccC AqBbCcDE Copyab. ReplacePasteBIU - abe x, xA - aly ,I NormalI No Spac. Heading 1 Heading 2TitleSubtitleSubtle Em..Format PainterA Select -ClipboardFontParagraphStylesEditingQUESTION 2E19.8 (Pg. 19-31)E19.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing itsproduct.Compute cost of goods manufactured and sold.Materials used inproductDepreciation on plant$120,000Advertising$45,000expense60,000Property taxes onplantDelivery expense14.000Property taxes onstoreLabor costs ofassembly-line workersFactory supplies used7,50021.000110,000Sales35,000commissionsSalaries paid tosales clerks23.00050.000Work 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.Instructions•a. Compute cost of goods manufactured.•b. Compute cost of goods sold.Page 1 of 4940 wordsEnglish (Malaysia)90%12:19 PMP Type here to search4)) ENG3/1/2021

All the expenses related to manufacturing including factory expenses are included in Cost of goods…

QUESTION 2 E19.8 (Pg. 19-31) E19.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its product. Compute cost of goods manufactured and sold. Materials used in $120,000 Advertising $45,000 product Depreciation on plant expense Property taxes on plant Delivery expense 60,000 14,000 Property taxes on store Labor costs of assembly-line workers Factory supplies used 7,500 21,000 110,000 Sales commissions 35,000 23,000 Salaries paid to sales clerks 50,000 Work 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. Instructions •a. Compute cost of goods manufactured. •b. Compute cost of goods sold.

QUESTION 2 E19.8 (Pg. 19-31) E19.8 (LO 3) Lopez Corporation incurred the following costs while manufacturing its product. Compute cost of goods manufactured and sold. Materials used in $120,000 Advertising $45,000 product Depreciation on plant expense Property taxes on plant Delivery expense 60,000 14,000 Property taxes on store Labor costs of assembly-line workers Factory supplies used 7,500 21,000 110,000 Sales commissions 35,000 23,000 Salaries paid to sales clerks 50,000 Work 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. Instructions •a. Compute cost of goods manufactured. •b. Compute cost of goods sold.

Accounting Information Systems

11th Edition

ISBN:9781337552127

Author:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Publisher:Ulric J. Gelinas, Richard B. Dull, Patrick Wheeler, Mary Callahan Hill

Chapter1: Introduction To Accounting Information System

Section: Chapter Questions

Problem 4P

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