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Brooks Corporation uses a job-order costing system to apply manufacturing costs to jobs. Overhead is applied to production at a rate of $0.75 per direct labor cost dollar. The company closes its underapplied or overapplied overhead to work in progress, finished foods inventory and cost of goods sold on a prorate basis.. Its balance sheet on March 1 is as follows:

Brooks Corporation
Balance Sheet
March 1
Assets
Cash				$	86,000
Raw materials	$	23,800
Work in process		22,500
Finished goods		30,500			76,800
Prepaid expenses					1,920
Property, plant, and equipment (net)					190,000
Total assets				$	354,720
Liabilities and Stockholders Equity
Accounts payable				$	19,600
Retained earnings					335,120
Total liabilities and stockholders equity				$	354,720
During March the company completed the following transactions: Purchased raw materials for cash, $71,600. Raw materials used in production, $87,100 ($75,600 was direct materials and $11,500 was indirect materials). Paid $254,250 of salaries and wages in cash ($149,250 was direct labor, $36,800 was indirect labor, and $68,200 was related to employees responsible for selling and administration). Various manufacturing overhead costs paid in cash to support production, $45,000. Depreciation recorded on property, plant, and equipment, $38,000 (85% related to manufacturing equipment and 15% related to assets that support selling and administration). Various selling expenses incurred on account, $42,600. Prepaid insurance expired during the month, $480 (60% related to production, and 40% related to selling and administration). Ending inventory balances on 3/31: work in progress = $28500, finished goods = $12500. Cash sales to customers, $570,000. Required: 1. Prepare Brooks Corporations schedule of cost of goods manufactured for the month ended March 31st. 2. Prepare Brooks Corporations schedule of cost of goods sold for the month ended March 31st after adjusting for overallocated or under-allocated overhead. 3. Prepare Brooks Corporations income statement for the month ended March 31st 4. Show the final adjusted balances in work in progress and finished goods inventory on March 31 March.

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