Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

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 $232,800 $214,060
Work in process 483,220 565,800
Finished goods 649,850 682,760
Direct labor $3,880,000
Materials purchased during March 2,955,670
Factory overhead incurred during March:
Indirect labor 354,740
Machinery depreciation 232,800
Heat, light, and power 194,000
Supplies 38,680
Property taxes 33,250
Miscellaneous costs 50,660
Johnstone Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended March 31
Indirect laborMachinery depreciationSuppliesWork in process inventory, March 1Work in process inventory, March 1 $

fill in the blank 3

Direct materials:

Machinery depreciationMaterials inventory, March 1SuppliesWork in process inventory, March 31Materials inventory, March 1

$

fill in the blank 5

Indirect labor Property taxesPurchasesWork in process inventory, March 31Purchases

fill in the blank 7

Cost of materials available for use Less work in process inventory, March 31SuppliesWork in process inventory, March 1Cost of materials available for use

$

fill in the blank 9

Indirect labor Materials inventory, March 31Miscellaneous costWork in process inventory, March 31Materials inventory, March 31

fill in the blank 11

Cost of direct materials used in productionLess work in process inventory, March 31Materials inventory, March 1Total manufacturing costsCost of direct materials used in production

$

fill in the blank 13

Direct laborIndirect laborMachinery depreciationSuppliesDirect labor

fill in the blank 15

Factory overhead:

Indirect laborMaterials inventory, March 1Materials inventory, March 31PurchasesIndirect labor

$

fill in the blank 17

Direct laborMachinery depreciationPurchasesWork in process inventory, March 31Machinery depreciation

fill in the blank 19

Direct laborHeat, light, and powerMaterials inventory, March 1Work in process inventory, March 31Heat, light, and power

fill in the blank 21

Direct laborMaterials inventory, March 1PurchasesSuppliesSupplies

fill in the blank 23

Materials inventory, March 31Property taxesPurchasesWork in process inventory, March 31Property taxes

fill in the blank 25

Direct materialsMiscellaneous costsPurchasesWork in process inventory, March 31Miscellaneous costs

fill in the blank 27

Total factory overhead

fill in the blank 28

Total manufacturing costs incurred during March

fill in the blank 29

Total manufacturing costs $

fill in the blank 30

Cost of materials available for use Direct materialsMaterials inventory, March 31Work in process inventory, March 31Work in process inventory, March 31

fill in the blank 32

Cost of goods manufactured $

fill in the blank 33

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

$fill in the blank 34

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Horngrens Accounting

Authors: Tracie Miller Nobles, Brenda Mattison, Ella Mae Matsumura, Carol A. Meissner, Jo Ann Johnston, Peter R. Norwood

11th Canadian Edition Volume 2

0135359783, 978-0135359785

More Books

Students also viewed these Accounting questions

Question

2. Information that comes most readily to mind (availability).

Answered: 1 week ago

Question

3. An initial value (anchoring).

Answered: 1 week ago