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The Zoe Corporation 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 inventory section of the balance sheet.
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 18,500 Finished goods inventory, March 1 21,000 Finished goods inventory, March 31 25,000 Sales 257,000 Sales and administrative expenses 79,000
Evaluate the Chmelar Manufacturing cost. Chmelar Manufacturing Company developed the following data:
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What could be the cost of the ending inventory
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Supplies costing $800 were used to repair a police car, and the Motor Vehicle Repair Fund billed to the General Fund at a markup of 20 percent on cost.
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