1. Zoe Corporation has the following information for the month of March:

   Purchases	$92,000
   Materials inventory, March 1	6,000
   Materials inventory, March 31	8,000
   Direct labor	25,000
   Factory overhead	37,000
   Work in process inventory, March 1	22,000
   Work in process inventory, March 31	23,500
   Finished goods inventory, March 1	21,000
   Finished goods inventory, March 31	30,000
   Sales	257,000
   Selling and administrative expenses	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
   			$
   Direct Materials:
   	$
   	$
   Cost of direct materials used		$
   Total manufacturing costs incurred
   Total manufacturing costs			$
   Cost of goods manufactured			$

   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
   		$
   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	$

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