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		$240,000			$220,680
Work in process		498,170			583,300
Finished goods		669,950			703,870
Direct labor		$4,000,000
Materials purchased during March		3,047,080
Factory overhead incurred during March:
Indirect labor		365,710
Machinery depreciation		240,000
Heat, light, and power		200,000
Supplies		39,880
Property taxes		34,280
Miscellaneous costs		52,230