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please answer as soon as possible 1. ColemanIndustries has the following cost records for March 2020: Direct materials (March 1, 2020) $40,000 Direct materials (March
please answer as soon as possible
1. ColemanIndustries has the following cost records for March 2020: Direct materials (March 1, 2020) $40,000 Direct materials (March 31, 2020) 20,000 Direct materials Purchases 80,000 Direct labour 120,000 Indirect factory labour 18,000 Factory utilities 1,600 Depreciation, factory equipment 5,600 Maintenance, factory equipment 7,200 Indirect materials 9,000 Factory manager's salary 12,000 Work in process (March 1, 2020) 12,000 Work in process (March 31, 2020) 11,000 Finished goods (March 1, 2020) 20,000 Finished goods (March 31, 2020) 38,000 Marketing Costs 44,000 General and Administrative Costs 24,000 a) Prepare a cost of goods manufactured schedule for March 2020.(20 points) b) Prepare an income statement through operating profit for March 2020, assuming net sales are $500,000.(10 points)Step by Step Solution
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