Question

Zoe Corporation has the following information for the month of March: 6 8 Purchases Materials inventory, March 1 Materials inventory, March 31 Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31. Finished goods inventory, March 1 Finished goods inventory, March 31 Sales Selling and administrative expenses 2 $92,000 ,000 ,000 25,000 37,000 2,000 23,500 1,000 30,000 257,000 79,000 2 a. Prepare a schedule of cost of goods manufactured. Enter all amounts as positive numbers. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31 Direct Materials: UTIH Cost of direct materials used 100 Total manufacturing costs incurred Total manufacturing costs 3201 Cost of goods manufactured

Answer 1

* 2oe corporation has the following (a) 2Oе со УРО 2d hion statement of COST OF Goods manufactureol for the month ended masch 31 Work In Process Inventory, maach 1 22000 bidect materials: material Inventory, march a 6000 Purchases 92000 Cost of material available for use. 9 8000 Less: material Inventory march 31 (8000) Cost of drect material used $ 90,000 Direct labore 25000 factory overhead 37000 TOT manufacturing cost incured 152000 TOTAL manufacturing cost & 174000 Less work in process maachal (23500) cost of Goods manufactured $ 150,500 257000 20 e Coposa Hon Income statement sales cost of Good sold: Finished Goods Inventory maach i cost of Goods manufactured cost of finished Goods available for sale less; finished Goods inventory, march 31 ICOSTOR do make you used G100 501 Gross Profit operating expense: sales & Administоative Expense Net Income 21000 Isosoo 171500 (30,000) (141500) 1,15soo 679 000) $36500

20e corporation Inventory section of the balance sheet Inventories: Finished Goods $ 30000 Work In Process 23500 materials 8000 TOTCH Inventories 6 1500