Question

16
Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $15,139 Direct labor 25,998 Factory overhead 38,639 Work in process inventory, March 1 22,520 Work in process inventory, March 31 18,656 22,257 Finished goods inventory, March 1 Finished goods inventory, March 31 27,009 a. Determine the cost of goods manufactured. $ b. Determine the cost of goods sold.

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Answer 1

(a) Cost of goods manufactured
	$
Cost of Direct Materials used in production	15,139.00
Direct Labor	25,998.00
Factory overhead	38,639.00
Add: Beginning Work in process	22,520.00
Less: Ending Work in process	(18,656.00)
Cost of goods manufactured	83,640.00
(b) Computation of cost of goods sold
	$
Beginning Finished Goods	22,257.00
Cost of goods manufactured	83,640.00
Less: Ending Finished Goods	(27,009.00)
Cost of goods sold	78,888.00