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Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 Materials $207,600 $190,890 Work in
Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows:
Inventories | March 1 | March 31 | ||||
Materials | $207,600 | $190,890 | ||||
Work in process | 430,920 | 504,560 | ||||
Finished goods | 579,510 | 608,850 | ||||
Direct labor | $3,460,000 | |||||
Materials purchased during March | 2,635,720 | |||||
Factory overhead incurred during March: | ||||||
Indirect labor | 316,340 | |||||
Machinery depreciation | 207,600 | |||||
Heat, light, and power | 173,000 | |||||
Supplies | 34,500 | |||||
Property taxes | 29,650 | |||||
Miscellaneous costs | 45,180 |
This information has been collected in the Microsoft Excel Online file. Open the spreadsheet, perform the required analysis, and input your answers in the questions below.
Open spreadsheet
- Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar
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