Statement of Cost of Goods Manufactured for a Manufacturing Company

Cost data for Firetree Manufacturing Company for the month ended March 31 are as follows:

Inventories	March 1	March 31
Materials	$240,000	$195,200
Work in process	428,700	510,400
Finished goods	582,100	614,400

Line Item Description	Amount
Direct labor	$3,200,000
Materials purchased during March	2,673,500

Line Item Description	Amount
Indirect labor	320,000
Machinery depreciation	213,000
Heat, light, and power	174,000
Supplies	36,100
Property taxes	30,000
Miscellaneous costs	48,200

Question Content Area

a. Prepare a cost of goods manufactured statement for March.

Costs Type	Amount	Amount	Amount
Indirect laborMachinery depreciationSuppliesWork in process inventory, March 1Work in process inventory, March 31Work in process inventory, March 1			$Work in process inventory, March 1
Direct materials:
Machinery depreciationMaterials inventory, March 1SuppliesWork in process inventory, March 1Work in process inventory, March 31Materials inventory, March 1	$Materials inventory, March 1
Indirect laborProperty taxesPurchasesWork in process inventory, March 1Work in process inventory, March 31Purchases	Purchases
Cost of materials available for useIndirect laborSuppliesWork in process inventory, March 1Work in process inventory, March 31Cost of materials available for use	$Cost of materials available for use
Indirect laborMaterials inventory, March 31Miscellaneous costsWork in process inventory, March 1Work in process inventory, March 31Materials inventory, March 31	Materials inventory, March 31
Cost of direct materials used in productionMaterials inventory, March 1Total manufacturing costsWork in process inventory, March 1Work in process inventory, March 31Cost of direct materials used in production		$Cost of direct materials used in production
Direct laborIndirect laborMachinery depreciationSuppliesWork in process inventory, March 31Direct labor		Direct labor
Factory overhead:
Direct laborIndirect laborMaterials inventory, March 1Materials inventory, March 31PurchasesIndirect labor	$Indirect labor
Direct laborMachinery depreciationPurchasesWork in process inventory, March 1Work in process inventory, March 31Machinery depreciation	Machinery depreciation
Direct laborHeat, light, and powerMaterials inventory, March 1Work in process inventory, March 1Work in process inventory, March 31Heat, light, and power	Heat, light, and power
Direct laborMaterials inventory, March 1PurchasesSuppliesWork in process inventory, March 31Supplies	Supplies
Materials inventory, March 31Property taxesPurchasesWork in process inventory, March 1Work in process inventory, March 31Property taxes	Property taxes
Direct materialsMiscellaneous costsPurchasesWork in process inventory, March 1Work in process inventory, March 31Miscellaneous costs	Miscellaneous costs
Total factory overhead		Total factory overhead
Total manufacturing costs incurred during March			Total manufacturing costs incurred during March
Total manufacturing costs			$Total manufacturing costs
Cost of materials available for useDirect materialsMaterials inventory, March 31Work in process inventory, March 1Work in process inventory, March 31Work in process inventory, March 31			Work in process inventory, March 31
Cost of goods manufactured			$Cost of goods manufactured

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