Question: Need help with this practice problem please answer all the boxes and ill leave a thumbs up ;) The XYZ Corporation has the following information


The XYZ 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 Statement of Cost of Goods Manufactured For Month Ended March 31, 20xx $ Work in process inventory March 1 Direct Materials: Materials inventory, March 1 Purchases Cost of materials for use Less materials inventory, March 31 Cost of materials placed in production Direct Labor Factory overhead 57 $ S S S S 67 S S S $ 0000 s S S S S Less materials inventory, March 31 Cost of materials placed in production Direct Labor Factory overhead Total manufacturing costs added Total manufacturing costs Less work in process inventory, March 31 Cost of goods manufactured S $ es $ $ S S s es $ $ $ $ S S S S 577 52 S $ $ S S
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