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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 | $219,600 | $201,920 | ||||
Work in process | 455,820 | 533,710 | ||||
Finished goods | 613,000 | 644,030 | ||||
Direct labor | $3,660,000 | |||||
Materials purchased during March | 2,788,080 | |||||
Factory overhead incurred during March: | ||||||
Indirect labor | 334,620 | |||||
Machinery depreciation | 219,600 | |||||
Heat, light, and power | 183,000 | |||||
Supplies | 36,490 | |||||
Property taxes | 31,370 | |||||
Miscellaneous costs | 47,790 |
I am struggling on one part and will upload an image of what I have so far.
tor the Month eEnded March 31 Worlk in process inventory, March 1 - 3 455,820 | v Direct materials: Materials inventory, March 1 - f & 219,600 | v Purchases = 2,788,080 | v Cost of materials available for use - | 3,007,680 | v Materials inventory, March 31 * 201,920 | Cost of direct materials used in production - of Direct labor - | 2,805,760 | v 3,660,000 | v Factory overhead: Indirect labor ~ & 334,620 | v Machinery depreciation - 219,600 | v Heat, light, and power _ ~ 183,000 | v Supplies ~ 36,490 | Property taxes i d 31,370 | v Miscellaneous costs = 47,790 | Total factory overhead 852,870 | v Total manufacturing costs incurred during March 7,318,630 | v Total manufacturing costs $\\:\\ XStep by Step Solution
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