The Zoe Corporation has the following information for the month of March:Cost of direct materials used in production$15,435Direct labor29,144Factory overhead31,972Work in process inventory, March 120,808Work in process inventory, March 3121,116Finished goods inventory, March 123,847Finished goods inventory, March 3125,769a. Determine the cost of goods manufacturedb. Determine the cost of goods sold

Answered: The Zoe Corporation has the following…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6PA: During the year, a company purchased raw materials of $77,321, and incurred direct labor costs of...

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The Zoe Corporation has the following information for the month of March:

Cost of direct materials used in production	$15,435
Direct labor	29,144
Factory overhead	31,972
Work in process inventory, March 1	20,808
Work in process inventory, March 31	21,116
Finished goods inventory, March 1	23,847
Finished goods inventory, March 31	25,769

a. Determine the cost of goods manufactured

b. Determine the cost of goods sold

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Cost sheet is a method of allocating total cost into different categories such as direct material consumed, prime cost, cost of goods manufactured etc.

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