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

FINANCIAL ACCOUNTING
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ISBN:9781259964947
Author:Libby
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Chapter1: Financial Statements And Business Decisions
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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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