Question

In: Accounting

The Zoe Corporation has the following information for the month of March: Cost of direct materials...

The Zoe Corporation has the following information for the month of March: Cost of direct materials used in production $18,147 Direct labor 26,753 Factory overhead 31,388 Work in process inventory, March 1 21,476 Work in process inventory, March 31 19,244 Finished goods inventory, March 1 23,257 Finished goods inventory, March 31 24,265 a. Determine the cost of goods manufactured. $ b. Determine the cost of goods sold..

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Expert Solution

Statement showing cost of goods Manufactured
Particulars Amount
Cost of direct raw materials used in production          18,147.00
Add Direct Labor          26,753.00
Add Manufacturing overhead          31,388.00
Total manufacturing costs          76,288.00
Plus: Beginning work-in-process inventory          21,476.00
Total work in process            97,764.00
Less: Ending work-in-process inventory        (19,244.00)
a) Cost of Goods Manufactured          78,520.00
Add Beginning Finished Goods inventory          23,257.00
Total goods available for sales        101,777.00
Less Ending Finished Goods inventory        (24,265.00)
b) cost of goods sold            77,512.00

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