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 Materials $235,200 Work in process 488,200 Finished goods 656,550 March 31 $216,270 571,640 689,800 Direct labor $3,920,000 Materials purchased during March 2,986,140 Factory overhead incurred during March: Indirect labor 358,400 Machinery depreciation 235,200 Heat, light, and power 196,000 Supplies 39,080 Property taxes 33,590 Miscellaneous costs 51,190 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 $ $ a. 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 Work in process inventory, March 1 488,200 Direct materials: Materials inventory, March 1 $ 235,200 Purchases 0 X Cost of materials available for use 235,200 X Materials inventory, March 31 216,270 Cost of direct materials used in production Direct labor 3,920,000 Factory overhead: Indirect labor 358,400 Machinery depreciation 235,200 Heat, light, and power 196,000 Supplies 39,080 Property taxes 33,590 Miscellaneous costs 51,190 Total factory overhead Total manufacturing costs incurred during March $ 235,200 196,000 39,080 33,590 51,190 Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Work in process inventory, March 31 Cost of goods manufactured $ b. Determine the cost of goods sold for March. Round your answer to the nearest dollar