help please thanks The Zoe Corporation has the following inf

help please, thanks

The Zoe Corporation has the following information for the month of March. Cost of materials placed in production Direct labor Factory overhead Work in process, March 1 Work in process, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 $69,000 27,000 34,000 15,000 19,500 25,000 23,000 Required Prepare a schedule(s) that computes: for Zoe Corporation for the month of March. (a) cost of goods manufactured, and (b) cost of goods sold

Solution

Answer a Cost of goods manufactured Direct Manterial Used $69,000 Direct Labor $27,000 Factory Overhead $34,000 Cost of Manufacturing $130,000 Add : Work in process , March 1 $15,000 Less : Work in process , March 31 $19,500 Cost of goods manufactured $125,500 Answer b Cost of goods sold Cost of goods manufactured $125,500 Add : Finished goods inventory , March 1 $25,000 Less : Finished Goods Inventory , March 31 $23,000 Cost of goods sold $127,500