Whizz Ltd produces a wide range of electronic appliances in its assembly line. The

following data were noted from its accounting records:

Direct labor

Manufacturing overhead

Direct materials purchased

Inventory balances:

Direct materials, 1 Jan 2018

Direct materials, 31 Dec 2018

Work in Process, 1 Jan 2018

Work in Process, 31 Dec 2018

Finished goods, 1 Jan 2018

Finished goods, 31 Dec 2018

$40.000

$38,500

$12,000

$2.150

$3.600

700.

$1.800

$2,800

$4,300

Determine the cost of goods sold (COGS) during 2018.

12 15 Question 41 (3 points) Whizz Ltd produces a wide range of electronic appliances in its assembly line. The following data were noted from its accounting records: Director $40,000 Manufacturing overhead $38.500 Direct materiale purchased 512,000 Inventory balances Direct materials, 1 Jan 2018 $2,150 Direct materials, 31 Dec 2018 $3,600 Work in Process, 1 Jan 2018 $700 Work in Process, 31 Dec 2018 $1.800 Finished goods. 1 Jan 2018 $2,800 Finished goods, 31 Dec 2018 $4,300 Determine the cost of goods sold (COGS) during 2018