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Calculate the amount of cost of sales for the year

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Reference no: EM132979275

Below is information in relation to the accounts of A FACTORY LIMITED.

§ Direct materials (1/1) €25.000

§ Purchases made during the year €115.000

§ Direct materials (31/12) €15.000

§ Direct labor used during the year €60.000

§ Direct labor paid during the year €56.000

§ Direct labor liability (31/12) €4.000

§ Manufacturing Overhead during the year €85.000

§ Work in Progress (1/1) €27.000

§ Work in Progress (31/12) €22.000

§ Finished goods (1/1) €44.000

§ Finished goods (31/12) €39.000

Problem 1: You are required to calculate the amount of Cost of Sales for the year.

Reference no: EM132979275

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