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ngageNowv2] Onlin, agenow.com/ilrm/takeAssignment/takeAssignmentMain.do?invoker-assignments&takeAssig; Calculator The Zoe Corporation has the following information for the month of March: Cost of direct materials used in production Direct labor Factory overhead Work in process inventory, March 1 Work in process inventory, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 a. Determine the cost of goods manufactured. $18,660 28,960 39,376 19,623 21,459 24,370 25,232 b. Determine the cost of goods sold.

Explanation / Answer

Requirement a

Zeo Corporation Statement of cost of goods manufactured For the month of March Raw material used in production          18,660 Direct Labour          28,960 Factorty overhead          39,376 Total Manfucature costs incurred          86,996 Add: Work In progess Inventory, March 1          19,623 Total manufacturing costs      1,06,619 Less : Work In progess Inventory , March 31        -21,459 Cost Goods Manufactured          85,160 Requirement b Zeo Corporation Income Statement For the month of March Cost Goods Manufactured          85,160 Add : Finshed Goods Inventory , March 1          24,370 Finished Goods Available for Sale      1,09,530 Less:Finshed Goods Inventory , March 31        -25,232 Cost of Goods Sold          84,298

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