Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

previewinWindow.html eBook Show Me How Office 365 Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone Manufacturing Company for the

image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
image text in transcribedimage text in transcribedimage text in transcribedimage text in transcribed
previewinWindow.html 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 ended March 31 are as follows: March 31 Inventories March 1 $240,000 $220,680 Materials Work in process 498,170 583,300 Finished goods 659,950 703,870 Direct labor $4,000,000 Materials purchased during March 3,047,080 Factory overhead incurred during March: Indirect labor 365,710 Machinery depreciation 240,000 Heat, light, and power 200,000 Supplies 39,880 Property taxes 34,280 Miscellaneous costs 52,230 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! X 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 Work in process inventory, March 1 105,570 X Direct materials: Materials inventory, March 1- 153,000 X Purchases 293,760 Cost of materials available for use 446,760 X Materials inventory, March 31 133,110 X No Check My Work uses Of a w " " " xmanualGrading/ previewinWindow.html Show Me How Office 365 Book 0.42 Open spreadsheet 0.88 a. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar 1.00 Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Work in process inventory, March 1 $ 105,570 X Direct materials: Materials inventory, March 1 : V 153,000 Purchases 293,760 X Cost of materials available for use 446,760 X Materials inventory, March 31 133,110 Cost of direct materials used in production $ 313,650 X Direct labor 275,400 X Factory overhead: Indirect labor 29,380 X Machinery depreciation 17,750 Heat, light, and power 6,120 X Supplies 4,900 Y Property taxes 1,280 X Miscellaneous costs 7,960 X Total factory overhead 70,390 X Total manufacturing costs incurred during March 659,440 X Total manufacturing costs 765,010 X Work in process inventory, March 31 91,850 X Cost of goods manufactured 673,160 X b. Determine the cost of goods sold for March. Round your answer to the nearest dollar. 660,680 X No Check My Work uses w- - C O about blank Excel template - Saved Search (Alt + Q) Home Insert Draw Page Layout Formulas Data Review Help File A BIG A By a Merge |General $ 38 08 Conditional Format D E G m CNOWV2 for grading Johnstone Manufacturing Company 24 Statement of Cost of Goods Manufactured 25 For the Month Ended March 31 Formulas 26 a 27 Direct materials. 20 31 33 34 Factory overhead 35 136 37 38 39 40 41 Total factory overhead 42 Total manufacturing costs incurred during March 43 Total manufacturing costs 45 Cost of goods manufactured 46 47 1 Cost of goods sold for March 48 49 50 ST 52 53 54 55 56 57 58 59 60 61 Data Workbook Statistics Type here to search ABDOfaW GCGAssignment/takeAssignmentMain.do?invoker=&itakeAssignmentSessionLocator= Bunprogress =false Office 3615 Book Show Me How Statement of cost of goods manufactured for e manufacturing company Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: Inventories March 1 March 31 Materials $240,000 $220,680 Work in process 498,170 583,300 Finished goods 669,950 703,870 Direct labor $4,000,000 Materials purchased during March 3,047,080 factory overhead incurred during March: Indirect labor 365,710 Machinery depreciation 240,000 Heat, light, and power 200,000 Supplies 39,880 Property taxes 34,280 Miscellaneous costs $2,230 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 a. 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 $ 105,570 Direct materials: Materials inventory, March 1 153,000 Purchases 293,760 Cost of materials available for use 446,760 Materials inventory. March 31 133.110 Check My Work All work saved. Of W

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Foundations Of Finance

Authors: Arthur Keown, John Martin, J. Petty

10th Edition

0136102654, 9780136102656

More Books

Students also viewed these Accounting questions