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		$183,600			$168,820
Work in process		381,100			446,230
Finished goods		512,510			538,460
Direct labor		$3,060,000
Materials purchased during March		2,331,020
Factory overhead incurred during March:
Indirect labor		279,770
Machinery depreciation		183,600
Heat, light, and power		153,000
Supplies		30,510
Property taxes		26,220
Miscellaneous costs		39,960

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

1. 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
Indirect laborMachinery depreciationSuppliesWork in process inventory, March 1					$
Direct materials:
Machinery depreciationMaterials inventory, March 1SuppliesWork in process inventory, March 31	$
Indirect labor Property taxesPurchasesWork in process inventory, March 31
Cost of materials available for use Less work in process inventory, March 31SuppliesWork in process inventory, March 1	$
Indirect labor Materials inventory, March 31Miscellaneous costWork in process inventory, March 31
Cost of direct materials used in productionLess work in process inventory, March 31Materials inventory, March 1Total manufacturing costs			$
Direct laborIndirect laborMachinery depreciationSupplies
Factory overhead:
Indirect laborMaterials inventory, March 1Materials inventory, March 31Purchases	$
Direct laborMachinery depreciationPurchasesWork in process inventory, March 31
Direct laborHeat, light, and powerMaterials inventory, March 1Work in process inventory, March 31
Direct laborMaterials inventory, March 1PurchasesSupplies
Materials inventory, March 31Property taxesPurchasesWork in process inventory, March 31
Direct materialsMiscellaneous costsPurchasesWork in process inventory, March 31
Total factory overhead
Total manufacturing costs incurred during March
Total manufacturing costs					$
Cost of materials available for use Direct materialsMaterials inventory, March 31Work in process inventory, March 31
Cost of goods manufactured					$

Determine the cost of goods sold for March. Round your answer to the nearest dollar.

$fill in the blank 34