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, March 1 | 22,000 |
| Work in process, March 31 | 23,500 |
| Finished goods inventory, March 1 | 21,000 |
| Finished goods inventory, March 31 | 30,000 |
| Sales | 257,000 |
| Sales and administrative expenses | 79,000 |
a. Prepare a schedule of cost of goods manufactured.
| Zoe Corporation | |||
| Statement of Cost of Goods Manufactured | |||
| For Month Ended March 31 | |||
| $fill in the blank fa4cf9fb503af87_2 | |||
| Direct Materials: | |||
| $fill in the blank fa4cf9fb503af87_4 | |||
| fill in the blank fa4cf9fb503af87_6 | |||
| $fill in the blank fa4cf9fb503af87_8 | |||
| fill in the blank fa4cf9fb503af87_10 | |||
| Cost of direct materials used | $fill in the blank fa4cf9fb503af87_11 | ||
| fill in the blank fa4cf9fb503af87_13 | |||
| fill in the blank fa4cf9fb503af87_15 | |||
| Total manufacturing costs incurred | fill in the blank fa4cf9fb503af87_16 | ||
| Total manufacturing costs | $fill in the blank fa4cf9fb503af87_17 | ||
| fill in the blank fa4cf9fb503af87_19 | |||
| Cost of goods manufactured | $fill in the blank fa4cf9fb503af87_20 |
b. Prepare an income statement for the month ended March 31.
| Zoe Corporation | ||
| Income Statement | ||
| For Month Ended March 31 | ||
| $fill in the blank 25f997080ffc02d_2 | ||
| Cost of goods sold: | ||
| $fill in the blank 25f997080ffc02d_4 | ||
| fill in the blank 25f997080ffc02d_6 | ||
| $fill in the blank 25f997080ffc02d_8 | ||
| fill in the blank 25f997080ffc02d_10 | ||
| Cost of goods sold | fill in the blank 25f997080ffc02d_11 | |
| Gross Profit | $fill in the blank 25f997080ffc02d_12 | |
| Operating expenses: | ||
| fill in the blank 25f997080ffc02d_14 | ||
| $fill in the blank 25f997080ffc02d_16 |
c. Prepare only the inventory section of the balance sheet.
| Zoe Corporation | |
| Balance Sheet | |
| For Month Ended March 31 | |
| Inventory: | |
| Materials | $fill in the blank a02e67098061032_1 |
| Work in process | fill in the blank a02e67098061032_2 |
| Finished goods | fill in the blank a02e67098061032_3 |
| Total inventory | $fill in the blank a02e67098061032_4 |
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