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: January 31 January 1 Inventories $139,540 $162,250 Materials 92,100 107,090 Work in process Finished goods 93,490 82,750 $292,050 Direct labor Materials purchased during January 311,520 Factory overhead incurred during January: Indirect labor 31,150 Machinery depreciation 18,820 Heat, light, and power 6,490 5,190 Supplies 4,540 Property taxes 8,440 Miscellaneous costs 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 1 107,090 Direct materials: Materials inventory, January 1 162,250 Purchases 311,520 Work in process inventory, January 1 Direct materials: 162,250 Materials inventory, January 1 311,520 Purchases 473,770 Cost of materials available for use 139,540 Materials inventory, January 31 Cost of direct materials used in production Direct labor Factory overhead: Indirect labor 31,150 Machinery depreciation 18,820 Heat, light, and power 6,490 Supplies 5,190 Property taxes 4,540 MiscellaneouS costs 8,440 Total factory overhead Total manufacturing costs incurred during January Total manufacturing costs Cost of goods manufactured b. Determine the cost of goods sold for January