Q2. Zas Inc. submits the following data for September: Direct Labour cost $ 60,000 Cost of goods sold $222,000 Factory o
Posted: Thu May 05, 2022 5:22 am
- Q2 Zas Inc Submits The Following Data For September Direct Labour Cost 60 000 Cost Of Goods Sold 222 000 Factory O 1 (53.55 KiB) Viewed 45 times
Q2. Zas Inc. submits the following data for September: Direct Labour cost $ 60,000 Cost of goods sold $222,000 Factory overhead is applied at the rate of 150% of direct labour cost. Inventory accounts showed the following beginning and ending balances: Sept. 1 Sept. 30 Finished goods $30,000 $35,000 19,200 26,000 Work in process Materials 14,000 14,800 Other data: Marketing expenses $ 28,200 General and admin expenses 45,800 Sales for the month 364,000 Required: An Income Statement with a schedule showing cost of goods manufactured and cost of goods sold.