Messinger Manufacturing Company had the following account balances for the quarter ending March 31, unless otherwise noted:

Work-in-process inventory (January 1) $ 140,400

Work-in-process inventory (March 31) 171,000

Finished goods inventory (January 1) 540,000

Finished goods inventory (March 31) 510,000

Direct materials used 378,000

Indirect materials used 84,000

Direct manufacturing labor 480,000

Indirect manufacturing labor 186,000

Property taxes on manufacturing plant building 28,800

Salespersons' company vehicle costs 12,000

Depreciation of manufacturing equipment 264,000

Depreciation of office equipment 123,600

Miscellaneous plant overhead 135,000

Plant utilities 92,400

General office expenses 305,400

Marketing distribution costs 30,000

Sales revenue 3,000,000

Required:

In an Excel spreadsheet, using the format in the pictures below, prepare the following using the information above:

1. Statement of cost of goods manufactured for the period ended March 31.

2. Statement of cost of goods sold for the period ended March 31.

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B C D 1 PANEL A: INCOME STATEMENT 2 Cellular Products Income Statement For the Year Ended December 31, 2017 (in thousands) 5 Revenues $210,000 6 Cost of goods sold: 7 Beginning finished goods inventory, January 1, 2017 $ 22,000 8 Cost of goods manufactured (see Panel B) 104,000 STEP 4 9 Cost of goods available for sale 126,000 18,000 Ending finished goods inventory, December 31, 2017 Cost of goods sold 10 11 108,000 12 Gross margin (or gross profit) 13 Operating (period) costs: R&D, design, mktg., dist., and cust.-service cost Total operating costs 102,000 14 70,000 70,000 15 16 Operating income $ 32,000 17 18 PANEL B: COST OF GOODS MANUFACTURED 19 Cellular Products