Inventories	March 1	March 31
Materials		$216,000			$198,610
Work in process		448,350			524,970
Finished goods		602,950			633,480
Direct labor		$3,600,000
Materials purchased during March		2,742,370
Factory overhead incurred during March:
Indirect labor		329,140
Machinery depreciation		216,000
Heat, light, and power		180,000
Supplies		35,890
Property taxes		30,850
Miscellaneous costs		47,010

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 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 1					$	fill in the blank 3
Direct materials:
Machinery depreciationMaterials inventory, March 1SuppliesWork in process inventory, March 31	$	fill in the blank 5
Indirect labor Property taxesPurchasesWork in process inventory, March 31		fill in the blank 7
Cost of materials available for use Less work in process inventory, March 31SuppliesWork in process inventory, March 1	$	fill in the blank 9
Indirect labor Materials inventory, March 31Miscellaneous costWork in process 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 costs			$	fill in the blank 13
Direct laborIndirect laborMachinery depreciationSupplies				fill in the blank 15
Factory overhead:
Indirect laborMaterials inventory, March 1Materials inventory, March 31Purchases	$	fill in the blank 17
Direct laborMachinery depreciationPurchasesWork in process inventory, March 31		fill in the blank 19
Direct laborHeat, light, and power Materials inventory, March 1Work in process inventory, March 31		fill in the blank 21
Direct laborMaterials inventory, March 1PurchasesSupplies		fill in the blank 23
Materials inventory, March 31Property taxesPurchasesWork in process inventory, March 31		fill in the blank 25
Direct materialsMiscellaneous costsPurchasesWork in process inventory, March 31		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 31						fill in the blank 32
Cost of goods manufactured					$	fill in the blank 33

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