In: Accounting
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..
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 |