Chapter 18 Managerial Accounting Problem 1. The Target Company has the following information for the

Chapter 18 Managerial Accounting
Problem 1. The Target Company 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. $187,500 26,300 32,500 Purchases Materials inventory, March 1 Materials inventory, March 31 Direct labor Factory overhead Work in process, March 1S Work in process, March 31 Finished goods inventory, March 1 Finished goods inventory, March 31 Sales Sales and administrative expenses 3 T 2 51,000 73,000 3,600 37,900 5,400 41,200 567,000 191,000 1