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Coruscant Company is a brand new company that started operations on March 1, 2019. Coruscant manufactures cold weather clothing. At the end of March ,

Coruscant Company is a brand new company that started operations on March 1, 2019. Coruscant manufactures cold weather clothing. At the end of March , 2019, the accountant for Coruscant compiled the following information.

Item Amount
Administrative Expense $21,000
Direct Labor $12,000
Ending Finished Goods $9,000
Ending Raw Materials $21,000
Ending Work-in-Process $6,000
Manufacturing Overhead $10,000
Raw Materials Purchases $55,000
Sales Revenue $124,000
Selling Expense $23,000

Do not enter dollar signs or commas in the input boxes. Do not use the negative sign. a) Prepare a schedule of cost of goods manufactured for March.

Coruscant Manufacturing
Schedule of Cost of Goods Manufactured
For the Month Ended March 31, 2019
Work-in-Process, March 1 Answer
Direct Materials
Beginning raw materials Answer
Raw material purchases Answer
Raw materials available for use Answer
Ending raw materials inventory Answer
Direct Materials Requisitioned Answer
Direct Labor Answer
Total Factory Overhead Answer
Ending Work-in-Process Answer
Cost of Goods Manufactured Answer

b) Prepare an income statement for March.

Coruscant Manufacturing
Income Statement
For the Month Ended March 31, 2019
Sales Revenue Answer
Cost of Goods Sold
Beginning Finished Goods Answer
Cost of Goods Manufactured Answer
Ending Finished Goods Answer Answer
Gross Profit Answer
Operating Expenses
Administrative Expense Answer
Selling Expense Answer
Net Income Answer

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