Delvin Corporation incurred the following costs while manufacturing its product.
Materials used in product 130,000 Advertising expense 49,000
Depreciation on plant 65,000 Property taxes on plant 16,000
Property taxes on administrative building 7,700 Delivery expense 20,000
Labor costs of assembly-line workers 112,000 Sales commissions 31,000
Factory supplies used 24,000 Salaries paid to sales clerks 58,000
Work-in-process inventory was $23,000 at January 1 and $15,800 at December 31. Finished goods inventory was $67,000 at January 1 and $52,600 at December 31.
Instructions
Prepare a cost of goods manufactured schedule and determine the amount of cost of goods sold.