Answer:
1. Cost of goods manufactured = $150,500
2. Net income = $36,500
3. Total Inventory = $61,500
Explanation:
Requirement 1
                    Zoe Corporation
Schedule of cost of goods manufactured
      For the month ended March 31
Direct Materials:
Beginning Materials inventory             $6,000
Add: Raw materials purchases         <u>    92,000</u>
Raw materials available for use          $98,000
<u>Less: Ending Raw Materials                    8,000</u>
Direct materials used                          $90,000    
<u>Direct Labor                                           25,000</u>
Prime Cost                                          $115,000
<u>Factory overhead                                   37,000</u>
Total manufacturing cost                 $152,000
Add: Work in process, March 1              22,000
<u>Less: Work in process, March 31          (23,500)</u>
Cost of goods manufactured           $150,500
Requirement 2
                         Zoe Corporation
Income Statement for manufacturing company
             For the month ended March 31
Sales revenue                                                                $257,000
<em>Less: Cost of goods sold</em>
Beginning finished goods inventory           $   21,000
Add: Cost of goods manufactured (Req.1)   <u>  150,500</u>
<em>Finished goods available for sale                   171,500</em>
Less: Ending finished goods inventory     <u>     (30,000)</u>
<u>Cost of goods sold                                                            141,500</u>
Gross Profit                                                                     $115,500
<u>Less: Sales and administrative expenses                         79,000</u>
Net operating Income                                                    $36,500
Requirement 3
                         Zoe Corporation
                           Balance Sheet
                           As at March 31
Inventory:
Materials                           $8,000
Work-in-process               23,500
<u>Finished goods                 30,000</u>
Total Inventory                $61,500
Inventory consists of all the ending materials, ending work-in-process, and ending finished goods. All the ending items need to be shown in the balance sheet because those inventories will remain at hand at the end of the period.