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I need help Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone Manufacturing Company for the month ended March 31
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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 $236,400 $217,370 Work in process 490,700 574,550 Finished goods 659,900 693,310 Direct labor $3,940,000 Materials purchased during March 3,001,370 Factory overhead incurred during March: Indirect labor 360,220 Machinery depreciation 236,400 Heat, light, and power 197,000 Supplies 39,280 Property taxes 33,770 Miscellaneous costs 51,450a. 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 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 in production $ Direct laborFactory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs $ Work in process inventory, March 31 Cost of goods manufactured $ b. Determine the cost of goods sold for March. Round your answer to the nearest dollarStep by Step Solution
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