Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $152,500 $129,630 Work in process 100,650 85,560 Finished goods 79,300 86,850 Direct labor $274,500 Materials purchased during January 292,800 Factory overhead incurred during January: Indirect labor 29,280 Machinery depreciation 17,690 Heat, light, and power 6,100 Supplies 4,880 Property taxes 4,270 Miscellaneous costs 7,930 a. Prepare a cost of goods manufactured statement for January, Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 Work in process inventory, January 1 Direct materials: Materials inventory, January 1 Work in process inventory, January 1 Direct materials: Materials inventory, January 1 Purchases Cost of materials available for use Materials inventory, January 31 Cost of direct materials used in production Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead Total manufacturing costs incurred during January Total manufacturing costs Work in process inventory, January 31 Cost of goods manufactured b. Determine the cost of goods sold for January