Zoe corporation has the following information for the month of March
Zoe Corporation has the following information for the month of March: Purchases $92,000 6,000 8,000 25,000 37,000 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 22,000 23,500 21,000 30,000 257,000 79,000 Selling and administrative expenses a. Prepare a schedule of cost of goods manufactured. Enter all amounts as positive numbe 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 98,000 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 98,000 Less ending materials inventory 8,000 90,000 Cost of direct materials used Direct labor 25,000 Beginning materials inventory 37,000 Total manufacturing costs incurred 152,000 23,500 Total manufacturing costs Less ending work in process inventory 174,000 Cost of goods manufactured 150,500 b. Prepare an income statement for the month ended March 31. Enter all amounts as positive num Zoe Corporation Income Statement For the Month Ended March 31 Sales Cost of goods sold: 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 Sales Cost of goods sold: Cost of goods sold Gross Profit Operating expenses: c. Prepare only the Inventory section of the balance sheet. Zoe Corporation Inventory Section of the Balance Sheet Inventories: Finished goods Work in process Materials Total inventories