Costs of Goods Manufactured are

Work in process inventory, March117,000

Materials, March 16,000

Purchase of materials85,000

Cost of materials available for use*

Less Materials, March317,000

What areCost of materials placed inproduction =

Direct Labor is

25,000

Factory Overhead:

Indirect Labor15,000

Indirect Materials=

Other factory supplies & utilities costs 9,000

Total Factory Overhead

34,000

Total Manufacturing costs*

Less: Work in Process inventory, March 18,500

What are Cost of goodManufacture =

Income Statement

Sales235,000

Finished goods inventory, March121,000

Cost of goodsmanufactured___From Above __

Cost of finished goods available forsale*

Less: finished good inventory, March3123,000

What areCost of goodssold =

Gross Profit$*

Less: selling and administrativeexpenses78,000

NetIncome =