Answer:
Explanation:
The preparation of the cost of goods manufactured is presented below:
Zoe Corporation
Statement of Cost of Goods Manufactured
For Month Ended March 31, 20XX
Work in process inventory March 1 $22,000
Direct materials :
Materials inventory, March 1 $6,000
Add: Purchases $92,000
Cost of materials for use $98,000
Less - materials inventory, March 31 -$8,000
cost of materials placed in production $90,000
Add:
Direct labor $25,000
Factory overhead $37.000
Total manufacturing costs added $152,000
Total manufacturing costs $174,000
Less- work in process inventory, March 31 $23,500
Cost of goods manufactured $150,500
