Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 $237,000 $206,190 Materials Work in process Finished goods 161,160 140,210 138,150 120,870 $426,600 Direct labor Materials purchased during March Factory overhead incurred during March: 455,040 Indirect labor 45,500 27,490 Machinery depreciation Heat, light, and power Supplies 9,480 7,580 Property taxes 6,640 Miscellaneous costs 12,320 a. Prepare a cost of goods manufactured statement for March. Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Work in process inventory, March 1 Direct materials: Materials inventory, March 1 Purchases Cost of materials available for use Materials inventory, March 31 Cost of direct materials used Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead eBook Show Me How Total manufacturing costs incurred during March Total manufacturing costs Work in process Inventory, March 31 Cost of goods manufactured Feedback Check My Won a. Add the beginning materials and purchases and subtract the ending materials inventory. Add direct labor and factory overhead. This will give total manufacturing costs. Then, add the total manufacturing costs to the beginning work in process inventory and subtract the ending work in process inventor b. Determine the cost of goods sold for March Feedback Check My Work b. Add the cost of goods manufactured from (a) to the beginning finished goods inventory. Subtract the ending finished goods inventory