1. 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		$225,600			$207,440
   Work in process		468,280			548,310
   Finished goods		629,750			661,640
   Direct labor					$3,760,000
   Materials purchased during March					2,864,260
   Factory overhead incurred during March:
   Indirect labor					343,770
   Machinery depreciation					225,600
   Heat, light, and power					188,000
   Supplies					37,490
   Property taxes					32,220
   Miscellaneous costs					49,100

   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

   1. 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
      Indirect laborMachinery depreciationSuppliesWork in process inventory, March 1					$	fill in the blank 3
      Direct materials:
      Machinery depreciationMaterials inventory, March 1SuppliesWork in process inventory, March 31	$	fill in the blank 5
      Indirect labor Property taxesPurchasesWork in process inventory, March 31		fill in the blank 7
      Cost of materials available for use Less work in process inventory, March 31SuppliesWork in process inventory, March 1	$	fill in the blank 9
      Indirect labor Materials inventory, March 31Miscellaneous costWork in process 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 costs			$	fill in the blank 13
      Direct laborIndirect laborMachinery depreciationSupplies				fill in the blank 15
      Factory overhead:
      Indirect laborMaterials inventory, March 1Materials inventory, March 31Purchases	$	fill in the blank 17
      Direct laborMachinery depreciationPurchasesWork in process inventory, March 31		fill in the blank 19
      Direct laborHeat, light, and powerMaterials inventory, March 1Work in process inventory, March 31		fill in the blank 21
      Direct laborMaterials inventory, March 1PurchasesSupplies		fill in the blank 23
      Materials inventory, March 31Property taxesPurchasesWork in process inventory, March 31		fill in the blank 25
      Direct materialsMiscellaneous costsPurchasesWork in process inventory, March 31		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 31						fill in the blank 32
      Cost of goods manufactured					$	fill in the blank 33

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

      $fill in the blank 34

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