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 $131,750 $114,620 Work in process 90,910 79,090 Finished goods 67,190 77,940 Direct labor $237,150 Materials purchased during March 252,960 Factory overhead incurred during March: Indirect labor 25,300 Machinery depreciation 15,280 Heat, light, and power 5,270 Supplies 4,220 Property taxes 3,690 Miscellaneous costs 6,850 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 Work in process inventory, March 1 Direct materials: Materials inventory, March 1 131,750 Purchases 252,960 Cost of materials available for use Materials inventory, March 31 Cost of direct materials used Direct labor Factory overhead: Total factory overhead $ 90,910 Total manufacturing costs incurred during March Total manufacturing costs Cost of goods manufactured b. Determine the cost of goods sold for March. $