Zoe Corporation has the following information for the month of March: Purchases $92,000 Materials inventory, March...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
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 inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31 Direct Materials: Direct Materials: Cost of direct materials used Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For the Month Ended March 31 Cost of goods sold: Cost of goods sold: Cost of goods sold Gross Profit Operating expenses: c. Prepare only the Inventory section of the balance sheet. Zoe Corporation Inventory Section of the Balance Sheet Inventories: Finished goods Work in process Materials Total inventories 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 inventory, March 1 22,000 Work in process inventory, March 31 23,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 30,000 Sales 257,000 Selling and administrative expenses 79,000 a. Prepare a schedule of cost of goods manufactured. Zoe Corporation Statement of Cost of Goods Manufactured For the Month Ended March 31 Direct Materials: Direct Materials: Cost of direct materials used Total manufacturing costs incurred Total manufacturing costs Cost of goods manufactured b. Prepare an income statement for the month ended March 31. Zoe Corporation Income Statement For the Month Ended March 31 Cost of goods sold: Cost of goods sold: Cost of goods sold Gross Profit Operating expenses: c. Prepare only the Inventory section of the balance sheet. Zoe Corporation Inventory Section of the Balance Sheet Inventories: Finished goods Work in process Materials Total inventories
Expert Answer:
Answer rating: 100% (QA)
Answer Solution a a schedule of cost of goods manufactured Zoe Corporation Statement of Cost of Good... View the full answer
Related Book For
Principles Of Accounting
ISBN: 9780077300456
1st Edition
Authors: Robert Libby, Patricia Libby, Fred Phillips, Stacey Whitecotton
Posted Date:
Students also viewed these accounting questions
-
The Zoe Corporation has the following information for the month of March. Determine the (a) cost of goods manufactured, and (b) cost of goods sold. Cost of materials placed in productio $69,000...
-
The Cake Factory has the following information for the month of March. Prepare a (a) schedule of cost of goods manufactured, (b) an income statement for the month ended March 31, and (c) prepare only...
-
The following is partial information for the month of March for Macmillan International Inc., a two-department manufacturer that uses process costing: Work in process, beginning (67% converted)...
-
The following is a condensed income statement for Sweets & Treats, a confectionary. Required: Determine (a) The cost of purchases and (b) Costs associated with sales and administration. Sweets &...
-
The market price is $900 for a 10-year bond ($1,000 par value) that pays 8 percent annual interest, but makes interest payments on a semiannual basis (4 percent semiannually). What is the bonds yield...
-
Compute the homology groups of the space consisting of a torus tangent to a 2-sphere at all points of a great circle of the 2-sphere, i.e., a balloon wearing an inner tube.
-
Describe some of the ways that globalization has affected families and predict how families might change in the next 25 years.
-
Peabody Company owns 90% of the outstanding capital stock of Sloane Company. During 2011 and 2012 Sloane Company sold merchandise to Peabody Company at a markup of 25% of selling price. The selling...
-
3) Convert the following numbers from unsigned base 16 to unsigned base 2 using 1-byte. A) D4 B) 05 C) 65 D) FF
-
The following data relate to the operations of Shilow Company, a wholesale distributor of consumer goods: Current assets as of March 31: Cash $ 8,000 Accounts receivable 20,000 Inventory 36,000...
-
A relatively new pharmacy retail company, namely FarmaBee, is currently experiencing significant growth in the sales of medicines. Its headquarter is situated in Jakarta whereas its two branches are...
-
Considering in the figure, given layout floor of two story framedystem with the total weights as W=1250+ Ska structure in Y-Y direction. Utilizing ERZINCAN acceleration earthquake spectrum of 1992 kN...
-
Determine which of the below service lines are over budget, and which outpatient service lines are over budget after accounting for workload increases? How is the second of those two calculated?...
-
QUESTIONS 1. SCRPC uses notes to finance its working capital and its seasonal needs. Should the firm use its cost of notes in the measure of the cost of capital? 2. Estimate the firms after-tax cost...
-
Why we use Ru formula without tax here while the tax shield next period have tax? Could we use Ru = B/S*Rs*(1-t) + S/B*Rs to solve this question? If yes then what different between use Ru formula...
-
Evaluating the market and AdTec, you assume that AdTec is going to produce the following cash-flows in the coming years (figures in mn): *Ref) the risk-free rate is 1.08% *Ref) acquisition price of...
-
; The Microeconomic objectives of government These are the policies which are concerned with the allocation and distribution of resources to maximize social welfare. i. Allocation policies The major...
-
How do network effects help Facebook fend off smaller social-networking rivals? Could an online retailer doing half as much business compete on an equal footing with Amazon in terms of costs? Explain.
-
The following transactions are February 2009 activities of Swing Hard, a sole proprietorship owned by Doris Heald. The business offers indoor golfing lessons. If an expense is to be recognized in...
-
In 2002, Brad McQuaid and Jeff Butler founded Sigil Games Online, Inc. (now owned by Sony Online Entertainment) with the mission of creating massively multiplayer online (MMO) games. Its "vanguard"...
-
Sifuentes Consulting, owned and managed by Jos Sifuentes, provides marketing consulting services. In January 2011, Sifuentes Consulting posted the following transactions. a. (Example) Received $9,500...
-
A picture is taken of a man performing a pole vault, and the minimum radius of curvature of the pole is estimated by measurement to be \(4.5 \mathrm{~m}\). If the pole is \(40 \mathrm{~mm}\) in...
-
Determine the displacement of end \(\mathrm{C}\) of the 100 -mm-diameter solid circular shaft. The shaft is made of steel having a modulus of elasticity of \(E=200 \mathrm{GPa}\). B C -2 m- 1 m- x2 6...
-
Determine the equation of the elastic curve and the maximum deflection of the cantilever beam. A x L Wo
Theory Of Simple Liquids With Applications To Soft Matter 4th Edition - ISBN: 0123870321 - Free Book
Study smarter with the SolutionInn App