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:

InventoriesMarch 1March 31

Materials$149,750 $130,280

Work in process103,330 89,890

Finished goods77,870 88,590

Direct labor$269,550

Materials purchased during March287,520

Factory overhead incurred during March:

Indirect labor28,750

Machinery depreciation17,370

Heat, light, and power5,990

Supplies4,790

Property taxes4,190

Miscellaneous costs7,790

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

$

Direct materials:

$

$

$

Factory overhead:

$

Total factory overhead

Total manufacturing costs incurred during March

Total manufacturing costs$

Cost of goods manufactured$

b. Determine the cost of goods sold for March. $