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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:

InventoriesMarch 1March 31
Materials$188,400$173,230
Work in process391,060457,880
Finished goods525,910552,530

Direct labor$3,140,000
Materials purchased during March2,391,960
Factory overhead incurred during March:
Indirect labor287,080
Machinery depreciation188,400
Heat, light, and power157,000
Supplies31,310
Property taxes26,910
Miscellaneous costs41,000

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 depreciation Materials inventory, March 1SuppliesWork in process inventory, March 31

    $fill in the blank 5

    Indirect labor Property taxes Purchases Work 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 production Less work in process inventory, March 31Materials inventory, March 1Total manufacturing costs

    $fill in the blank 13

    Direct labor Indirect labor Machinery depreciation Supplies

    fill in the blank 15
    Factory overhead:

    Indirect labor Materials 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 taxes Purchases Work in process inventory, March 31

    fill in the blank 25

      Direct materials Miscellaneous costs Purchases Work in process inventory, March 31

    fill in the blank 27
    Total factory overheadfill in the blank 28
    Total manufacturing costs incurred during Marchfill in the blank 29
    Total manufacturing costs$fill in the blank 30

    Cost of materials available for use Direct materials Materials 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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