Question
eBook Show Me How Office 365 Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone Manufacturing Company for the month
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Show Me How
Office 365
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
- 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
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