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, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For Month Ended March 31 $fill in the blank 857f0a0ad075ffa_2 Direct Materials: $fill in the blank 857f0a0ad075ffa_4 fill in the blank 857f0a0ad075ffa_6 $fill in the blank 857f0a0ad075ffa_8 fill in the blank 857f0a0ad075ffa_10 Cost of direct materials used $fill in the blank 857f0a0ad075ffa_11 fill in the blank 857f0a0ad075ffa_13 fill in the blank 857f0a0ad075ffa_15 Total manufacturing costs incurred fill in the blank 857f0a0ad075ffa_16 Total manufacturing costs $fill in the blank 857f0a0ad075ffa_17 fill in the blank 857f0a0ad075ffa_19 Cost of goods manufactured $fill in the blank 857f0a0ad075ffa_20 b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For Month Ended March 31 $fill in the blank bbed6504405afc2_2 Cost of goods sold: $fill in the blank bbed6504405afc2_4 fill in the blank bbed6504405afc2_6 $fill in the blank bbed6504405afc2_8 fill in the blank bbed6504405afc2_10 Cost of goods sold fill in the blank bbed6504405afc2_11 Gross Profit $fill in the blank bbed6504405afc2_12 Operating expenses: fill in the blank bbed6504405afc2_14 $fill in the blank bbed6504405afc2_16 c. Prepare only the inventory section of the balance sheet. Zoe Corporation Balance Sheet For Month Ended March 31 Inventory: Materials $fill in the blank d5c11efa4fc2fe1_1 Work in process fill in the blank d5c11efa4fc2fe1_2 Finished goods fill in the blank d5c11efa4fc2fe1_3 Total inventory $fill in the blank d5c11efa4fc2fe1_4
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, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For Month Ended March 31 $fill in the blank 857f0a0ad075ffa_2 Direct Materials: $fill in the blank 857f0a0ad075ffa_4 fill in the blank 857f0a0ad075ffa_6 $fill in the blank 857f0a0ad075ffa_8 fill in the blank 857f0a0ad075ffa_10 Cost of direct materials used $fill in the blank 857f0a0ad075ffa_11 fill in the blank 857f0a0ad075ffa_13 fill in the blank 857f0a0ad075ffa_15 Total manufacturing costs incurred fill in the blank 857f0a0ad075ffa_16 Total manufacturing costs $fill in the blank 857f0a0ad075ffa_17 fill in the blank 857f0a0ad075ffa_19 Cost of goods manufactured $fill in the blank 857f0a0ad075ffa_20 b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For Month Ended March 31 $fill in the blank bbed6504405afc2_2 Cost of goods sold: $fill in the blank bbed6504405afc2_4 fill in the blank bbed6504405afc2_6 $fill in the blank bbed6504405afc2_8 fill in the blank bbed6504405afc2_10 Cost of goods sold fill in the blank bbed6504405afc2_11 Gross Profit $fill in the blank bbed6504405afc2_12 Operating expenses: fill in the blank bbed6504405afc2_14 $fill in the blank bbed6504405afc2_16 c. Prepare only the inventory section of the balance sheet. Zoe Corporation Balance Sheet For Month Ended March 31 Inventory: Materials $fill in the blank d5c11efa4fc2fe1_1 Work in process fill in the blank d5c11efa4fc2fe1_2 Finished goods fill in the blank d5c11efa4fc2fe1_3 Total inventory $fill in the blank d5c11efa4fc2fe1_4
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, March 1 22,000 Work in process, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Sales and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For Month Ended March 31 $fill in the blank 857f0a0ad075ffa_2 Direct Materials: $fill in the blank 857f0a0ad075ffa_4 fill in the blank 857f0a0ad075ffa_6 $fill in the blank 857f0a0ad075ffa_8 fill in the blank 857f0a0ad075ffa_10 Cost of direct materials used $fill in the blank 857f0a0ad075ffa_11 fill in the blank 857f0a0ad075ffa_13 fill in the blank 857f0a0ad075ffa_15 Total manufacturing costs incurred fill in the blank 857f0a0ad075ffa_16 Total manufacturing costs $fill in the blank 857f0a0ad075ffa_17 fill in the blank 857f0a0ad075ffa_19 Cost of goods manufactured $fill in the blank 857f0a0ad075ffa_20 b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For Month Ended March 31 $fill in the blank bbed6504405afc2_2 Cost of goods sold: $fill in the blank bbed6504405afc2_4 fill in the blank bbed6504405afc2_6 $fill in the blank bbed6504405afc2_8 fill in the blank bbed6504405afc2_10 Cost of goods sold fill in the blank bbed6504405afc2_11 Gross Profit $fill in the blank bbed6504405afc2_12 Operating expenses: fill in the blank bbed6504405afc2_14 $fill in the blank bbed6504405afc2_16 c. Prepare only the inventory section of the balance sheet. Zoe Corporation Balance Sheet For Month Ended March 31 Inventory: Materials $fill in the blank d5c11efa4fc2fe1_1 Work in process fill in the blank d5c11efa4fc2fe1_2 Finished goods fill in the blank d5c11efa4fc2fe1_3 Total inventory $fill in the blank d5c11efa4fc2fe1_4
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, March 1
22,000
Work in process, March 31
23,500
Finished goods inventory, March 1
21,000
Finished goods inventory, March 31
30,000
Sales
257,000
Sales and administrative expenses
79,000
a. Prepare a schedule of cost of goods manufactured.
Zoe Corporation
Statement of Cost of Goods Manufactured
For Month Ended March 31
$fill in the blank 857f0a0ad075ffa_2
Direct Materials:
$fill in the blank 857f0a0ad075ffa_4
fill in the blank 857f0a0ad075ffa_6
$fill in the blank 857f0a0ad075ffa_8
fill in the blank 857f0a0ad075ffa_10
Cost of direct materials used
$fill in the blank 857f0a0ad075ffa_11
fill in the blank 857f0a0ad075ffa_13
fill in the blank 857f0a0ad075ffa_15
Total manufacturing costs incurred
fill in the blank 857f0a0ad075ffa_16
Total manufacturing costs
$fill in the blank 857f0a0ad075ffa_17
fill in the blank 857f0a0ad075ffa_19
Cost of goods manufactured
$fill in the blank 857f0a0ad075ffa_20
b. Prepare an income statement for the month ended March 31.
Zoe Corporation
Income Statement
For Month Ended March 31
$fill in the blank bbed6504405afc2_2
Cost of goods sold:
$fill in the blank bbed6504405afc2_4
fill in the blank bbed6504405afc2_6
$fill in the blank bbed6504405afc2_8
fill in the blank bbed6504405afc2_10
Cost of goods sold
fill in the blank bbed6504405afc2_11
Gross Profit
$fill in the blank bbed6504405afc2_12
Operating expenses:
fill in the blank bbed6504405afc2_14
$fill in the blank bbed6504405afc2_16
c. Prepare only the inventory section of the balance sheet.
Zoe Corporation
Balance Sheet
For Month Ended March 31
Inventory:
Materials
$fill in the blank d5c11efa4fc2fe1_1
Work in process
fill in the blank d5c11efa4fc2fe1_2
Finished goods
fill in the blank d5c11efa4fc2fe1_3
Total inventory
$fill in the blank d5c11efa4fc2fe1_4
Definition Definition Financial statement that provides a snapshot of an organization's financial position at a specific point in time. It summarizes a company's assets, liabilities, and shareholder's equity, detailing what the company owns, what it owes, and what is left over for its owners. The balance sheet serves as a crucial tool to assess the financial health and stability of a company, as well as to help management make informed decisions about its future investments and financial obligations.
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