Question

# Zoe Corporation has the following information for the month of March. Cost of direct materials used...

Zoe Corporation has the following information for the month of March.

 Cost of direct materials used in production \$16,558 Direct labor 25,121 Factory overhead 35,259 Work in process inventory, March 1 22,807 Work in process inventory, March 31 18,078 Finished goods inventory, March 1 22,097 Finished goods inventory, March 31 25,457

a. Determine the cost of goods manufactured.
\$

b. Determine the cost of goods sold.
\$

a.The cost of goods manufactured= Cost of direct materials used in production+ Direct labor + Factory overhead + Work in process inventory, March 1 - Work in process inventory, March 31

= \$ 16,558 + \$ 25,121+\$ 35,259 +\$ 22,807 - \$ 18,078

= \$ 81,667

Hence the correct answer is \$ 81,667

b. The cost of goods sold = Finished goods inventory, March 1 + cost of goods manufactured - Finished goods inventory, March 31

= \$ 22,097 + \$ 81,667- \$ 25,457

= \$ 78,307

Hence the correct answer is \$ 78,307

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