Zoe Corporation has the following information for the month of March:
Purchases | $92,000 |
Materials inventory, March 1 | 6,000 |
Materials inventory, March 31 | 8,000 |
Direct labor | 25,000 |
Factory overhead | 37,000 |
Work in process, March 1 | 22,000 |
Work in process, March 31 | 23,500 |
Finished goods inventory, March 1 | 21,000 |
Finished goods inventory, March 31 | 30,000 |
Sales | 257,000 |
Sales and administrative expenses | 79,000 |
Required:
Prepare (a) a statement of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c) the inventory section of the balance sheet. Refer to the Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. “Less” or “Plus” will automatically appear if it is required. You will not need to enter colons (:) on the financial statements. a. Prepare a statement of cost of goods manufactured. Refer to the Labels and Amount Descriptions provided for the exact wording of the answer choices for text entries. Be sure to complete the statement heading. “Less” or “Plus” will automatically appear if it is required. You will not need to enter colons (:) on the statement of cost of goods manufactured. Enter amounts as positive numbers.
b.
c.
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Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March...
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