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 1 March 31 Inventories Materials Work in process Finished goods $190,800 396,040 532,610 $175,440 463,720 559,570 Direct labor $3,180,000 Materials purchased during March 2,422,430 Factory overhead incurred during March: Indirect labor 290,740 Machinery depreciation 190,800 Heat, light, and power 159,000 Supplies 31,700 Property taxes 27,250 Miscellaneous costs 41,520 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 $ 396,040 For the Month Ended March 31 Work in process inventory, March 1 Direct materials: Materials inventory, March 1 $ 190,800 Purchases $ $ 3,180,000 $ 290,740 190,800 Cost of materials available for use Materials inventory, March 31 Cost of direct materials used in production Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Work in process inventory, March 31 Cost of goods manufactured 159,000 31,700 27,250 41,520 $ $ b. Determine the cost of goods sold for March. Round your answer to the nearest dollar