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 $205,250 $176,520 Work in process 137,520 118,270 Finished goods 104,680 120,030

Direct labor $369,450 Materials purchased during March 394,080 Factory overhead incurred during March: Indirect labor 39,410 Machinery depreciation 23,810 Heat, light, and power 8,210 Supplies 6,570 Property taxes 5,750 Miscellaneous costs 10,670 a. Prepare a cost of goods manufactured statement for March.

Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31

b. Determine the cost of goods sold for March.