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Statement of cost of goods manufactured for a manufacturing company

Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows:

Inventories	March 1	March 31
Materials		$237,600			$218,470
Work in process		493,190			577,460
Finished goods		663,250			696,820
Direct labor		$3,960,000
Materials purchased during March		3,016,610
Factory overhead incurred during March:
Indirect labor		362,050
Machinery depreciation		237,600
Heat, light, and power		198,000
Supplies		39,480
Property taxes		33,940
Miscellaneous costs		51,710

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

1. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar.

Johnstone Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended March 31
Indirect laborMachinery depreciationSuppliesWork in process inventory, March 1Work in process inventory, March 1					$	fill in the blank 3
Direct materials:
Machinery depreciationMaterials inventory, March 1SuppliesWork in process inventory, March 31Materials inventory, March 1	$	fill in the blank 5
Indirect labor Property taxesPurchasesWork in process inventory, March 31Purchases		fill in the blank 7
Cost of materials available for use Less work in process inventory, March 31SuppliesWork in process inventory, March 1Cost of materials available for use	$	fill in the blank 9
Indirect labor Materials inventory, March 31Miscellaneous costWork in process inventory, March 31Materials inventory, March 31		fill in the blank 11
Cost of direct materials used in productionLess work in process inventory, March 31Materials inventory, March 1Total manufacturing costsCost of direct materials used in production			$	fill in the blank 13
Direct laborIndirect laborMachinery depreciationSuppliesDirect labor				fill in the blank 15
Factory overhead:
Indirect laborMaterials inventory, March 1Materials inventory, March 31PurchasesIndirect labor	$	fill in the blank 17
Direct laborMachinery depreciationPurchasesWork in process inventory, March 31Machinery depreciation		fill in the blank 19
Direct laborHeat, light, and powerMaterials inventory, March 1Work in process inventory, March 31Heat, light, and power		fill in the blank 21
Direct laborMaterials inventory, March 1PurchasesSuppliesSupplies		fill in the blank 23
Materials inventory, March 31Property taxesPurchasesWork in process inventory, March 31Property taxes		fill in the blank 25
Direct materialsMiscellaneous costsPurchasesWork in process inventory, March 31Miscellaneous costs		fill in the blank 27
Total factory overhead				fill in the blank 28
Total manufacturing costs incurred during March						fill in the blank 29
Total manufacturing costs					$	fill in the blank 30
Cost of materials available for use Direct materialsMaterials inventory, March 31Work in process inventory, March 31Work in process inventory, March 31						fill in the blank 32
Cost of goods manufactured					$	fill in the blank 33

Determine the cost of goods sold for March. Round your answer to the nearest dollar.

$fill in the blank 34