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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
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.
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