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Zoe Corporation has the following information for the month of March: Purchases Materials inventory, March 1 Materials inventory, March 31 Direct labor Factory overhead Work
Zoe Corporation has the following information for the month of March: Purchases 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 Selling and administrative expenses $92,000 6,000 8,000 25,000 37,000 22,000 23,500 21,000 30,000 257,000 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31 Direct Materials: Direct Materials: Cost of direct materials used Total manufacturing costs incurred Total manufacturing costs Til Cost of goods manufactured b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For the Month Ended March 31 Cost of goods sold: 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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