1. The Zoo Corporation has the following information for the month of March. Prepare a schedule of cost of goods manufactured Purchases Materials inventory, March 1 Materials inventory, March 31 Direct labor Factory overhead Work in process, March 1 Work in process, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 Sales Sales and administrative expenses $92,000 6,000 8,000 25,000 37,000 22,000 18,500 21,000 25,000 257,000 79,000 ANS: Zoe Corporation Statement of Cost of Goods Manufactured For Month Ended March 31, 20xx Work in process inventory March 1 Direct Materials: Materials inventory, March 1 Purchases Cost of materials for use Less materials inventory, March 31 Cost of materials placed in production Direct Labor Factory overhead Total manufacturing costs added Total manufacturing costs Less work in process inventory, March 31 Cost of goods manufactured 1