Question

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

Please enter an account name for every "$" that is underneath the title. The possible name options are

Beginning work in progress inventory, March 1

Cost of materials placed in production

Direct Labor

Ending work in process inventory, March 31

Sales

Beginning materials inventory

Factory overhead

Wages Expense

Cost of goods sold

Direct Labor

Gross Profit

Purchases

Utility expense

Cost of materials available for use

Finished goods inventory

Rent expense

Interest expense

Rent expense

Sales

Sales and administrative expenses

Less direct labor

Less ending materials inventory

Less factory overhead

Less sales

Less utilities expense

Beginning finished goods inventory

Cost of finished goods available for sale

Pluse cost of goods manufactured

Net income

Net loss

a. Prepare a schedule of cost of goods manufactured.

Zoe Corporation

Statement of Cost of Goods Manufactured

For Month Ended March 31 For 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. Zoe Corporation Income Statement For 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 Balance Sheet For Month Ended March 31 Inventory: Materials $ Work in process $ Finished goods $ Total inventory $

Answer 1