Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $171,820 $195,250 134,720 99,580 Work in process Finished goods 118,560 116,840 Direct labor $351,450 374,880 Materials purchased during January Factory overhead incurred during January: Indirect labor 37,490 Machinery depreciation Heat, light, and power 22,650 7,810 Supplies 6,250 Property taxes 5,470 Miscellaneous costs 10,150 a. Prepare a cost of goods manufactured statement for January Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 Work in process inventory, January 1 $ 134,720 Direct materials: Materials inventory, January 1 $ 195,250 374,880 Purchases Cost of materials available for use $570,130 Materials inventory, January 31 171,820 Cost of direct materials used in production $ 398,310 Direct labor 351,450 Factory overhead: Indirect labor Machinery depreciation $ 37,490 22,650 7,810 Heat, light, and power Supplies 6,250 Property taxes 5,470 Miscellaneous costs 10,150 Total factory overhead 89,820 Total manufacturing costs incurred during January Total manufacturing costs Work in process inventory, January 31 Cost of goods manufactured Feedback b. Determine the cost of goods sold for January