Question
Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories ...............March 1.... March 31 Materials $305,000 $277,200 Work
Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows:
Inventories
...............March 1.... March 31
Materials $305,000 $277,200
Work in process 214,200 238,600
Finished goods 162,800 190,500
March 31
Direct labor $562,000
Materials purchased during the month 607,000
Factory overhead incurred during the month:
Indirect labor 60,600
Machinery depreciation 36,000
Heat, light, and power 12,900
Supplies 8,100
Property taxes 8,720
Miscellaneous costs 16,300
Required:
A. Prepare a cost of goods manufactured statement for March 2016. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. Less or Plus will automatically appear if it is required. Enter all amounts as positive numbers.
B. Determine the cost of goods sold for March 2016.
Amount Descriptions : Direct labor Finished goods inventory, March 1, 2016 Finished goods inventory, March 31, 2016 Heat, light, and power Indirect labor Machinery depreciation Materials inventory, March 1, 2016 Materials inventory, March 31, 2016 Miscellaneous cost Property taxes Purchases Supplies Work in process inventory, March 1, 2016 Work in process inventory, March 31, 2016
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