Calculator Zoe Corporation has the following information for the month of March: 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 $92,000 6,000 8,000 25,000 37,000 22,000 23,500 21,000 30,000 257,000 79,000 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 Beginning work in process inventory, March 1 Direct Materials: Beginning materials inventory 6,000 22,000 Purchases 92.000 Cost of materials available for use -8,000 Less ending materials inventory Cost of direct materials used 90.000 Direct labor 15.000 Factory overhead 152.000 Total manufacturing costs incurred Total manufacturing costs Less ending work in process inventory 22.000 -23.500 Cost of goods manufactured 150 SO b. Prepare an income statement for the month ended March 31. Enter all amounts as positive numbers. Zoe Corporation Income Statement For the Month Ended March 31 257,000 Sales Cost of goods sold: Beginning finished goods inventory 21,000 150,500 Cost of goods manufactured 171,500 Cost of finished goods available for sale 30,000 Less ending finished goods inventory -141,500 Cost of goods sold $ 115,500 Gross Profit Operating expenses: Selling and administrative expenses -79,000 $ 36,500 Net income c. Prepare only the Inventory section of the balance sheet. Zoe Corporation Inventory Section of the Balance Sheet Inventories: Finished goods Work in process $ 30,000 23,500 8,000 Materials Total inventories $ 61,500