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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:
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 | $180,000 | $165,510 | ||||
Work in process | 373,630 | 437,480 | ||||
Finished goods | 502,460 | 527,900 | ||||
Direct labor | $3,000,000 | |||||
Materials purchased during March | 2,285,310 | |||||
Factory overhead incurred during March: | ||||||
Indirect labor | 274,280 | |||||
Machinery depreciation | 180,000 | |||||
Heat, light, and power | 150,000 | |||||
Supplies | 29,910 | |||||
Property taxes | 25,710 | |||||
Miscellaneous costs | 39,170 |
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.
Open spreadsheet
- Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar.
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 $ -
Determine the cost of goods sold for March. Round your answer to the nearest dollar.
$
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