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Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories March 1 March 31 Materials $315,000 $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 | $315,000 | $277,200 |
Work in process | 214,200 | 239,400 |
Finished goods | 163,800 | 189,000 |
| March 31 |
Direct labor | $567,000 |
Materials purchased during the month | 604,800 |
Factory overhead incurred during the month: | |
Indirect labor | 60,480 |
Machinery depreciation | 36,000 |
Heat, light, and power | 12,600 |
Supplies | 10,080 |
Property taxes | 8,820 |
Miscellaneous costs | 16,380 |
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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