Question Content Area 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 inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000 Question Content Area a. Prepare a schedule of cost of goods manufactured. Zoe CorporationStatement of Cost of Goods ManufacturedFor the Month Ended March 31 $Work in process inventory, March 1 Direct Materials: $Materials inventory, March 1 Purchases $Finished goods inventory Less materials inventory, March 31 Cost of direct materials used $fill in the blank 4894e1fcf050fd3_11 Direct labor Factory overhead Total manufacturing costs incurred fill in the blank 4894e1fcf050fd3_16 Total manufacturing costs $fill in the blank 4894e1fcf050fd3_17 Less work in process inventory, March 31 Cost of goods manufactured $fill in the blank 4894e1fcf050fd3_20 Question Content Area b. Prepare an income statement for the month ended March 31. Zoe CorporationIncome StatementFor the Month Ended March 31 $Sales Cost of goods sold: $- Select - - Select - $- Select - - Select - Cost of goods sold fill in the blank eb9c99f3bfbe063_11 Gross Profit $fill in the blank eb9c99f3bfbe063_12 Operating expenses: Selling and administrative expenses $Net income Question Content Area c. Prepare only the Inventory section of the balance sheet. Zoe CorporationInventory Section of the Balance Sheet Inventories: Finished goods $fill in the blank d1a7c50acf9d044_1 Work in process fill in the blank d1a7c50acf9d044_2 Materials fill in the blank d1a7c50acf9d044_3 Total inventories $fill in the blank d1a7c50acf9d044_4
Question Content Area 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 inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000 Question Content Area a. Prepare a schedule of cost of goods manufactured. Zoe CorporationStatement of Cost of Goods ManufacturedFor the Month Ended March 31 $Work in process inventory, March 1 Direct Materials: $Materials inventory, March 1 Purchases $Finished goods inventory Less materials inventory, March 31 Cost of direct materials used $fill in the blank 4894e1fcf050fd3_11 Direct labor Factory overhead Total manufacturing costs incurred fill in the blank 4894e1fcf050fd3_16 Total manufacturing costs $fill in the blank 4894e1fcf050fd3_17 Less work in process inventory, March 31 Cost of goods manufactured $fill in the blank 4894e1fcf050fd3_20 Question Content Area b. Prepare an income statement for the month ended March 31. Zoe CorporationIncome StatementFor the Month Ended March 31 $Sales Cost of goods sold: $- Select - - Select - $- Select - - Select - Cost of goods sold fill in the blank eb9c99f3bfbe063_11 Gross Profit $fill in the blank eb9c99f3bfbe063_12 Operating expenses: Selling and administrative expenses $Net income Question Content Area c. Prepare only the Inventory section of the balance sheet. Zoe CorporationInventory Section of the Balance Sheet Inventories: Finished goods $fill in the blank d1a7c50acf9d044_1 Work in process fill in the blank d1a7c50acf9d044_2 Materials fill in the blank d1a7c50acf9d044_3 Total inventories $fill in the blank d1a7c50acf9d044_4
College Accounting, Chapters 1-27
23rd Edition
ISBN:9781337794756
Author:HEINTZ, James A.
Publisher:HEINTZ, James A.
Chapter26: Manufacturing Accounting: The Job Order Cost System
Section: Chapter Questions
Problem 2SEB: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Sanchez Welding and...
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Question Content Area
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 inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000 Question Content Area
a. Prepare a schedule of cost of goods manufactured.
$Work in process inventory, March 1 Direct Materials: $Materials inventory, March 1 Purchases $Finished goods inventory Less materials inventory, March 31 Cost of direct materials used $fill in the blank 4894e1fcf050fd3_11 Direct labor Factory overhead Total manufacturing costs incurredfill in the blank 4894e1fcf050fd3_16 Total manufacturing costs $fill in the blank 4894e1fcf050fd3_17 Less work in process inventory, March 31 Cost of goods manufactured $fill in the blank 4894e1fcf050fd3_20 Question Content Area
b. Prepare an income statement for the month ended March 31.
$Sales Cost of goods sold: $- Select - - Select - $- Select - - Select - Cost of goods sold fill in the blank eb9c99f3bfbe063_11 Gross Profit $fill in the blank eb9c99f3bfbe063_12 Operating expenses: Selling and administrative expenses $Net income Question Content Area
c. Prepare only the Inventory section of the balance sheet.
Inventories: Finished goods $fill in the blank d1a7c50acf9d044_1 Work in process fill in the blank d1a7c50acf9d044_2 Materials fill in the blank d1a7c50acf9d044_3 Total inventories $fill in the blank d1a7c50acf9d044_4
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