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 $134,750 $115,890 91,630 Work in process Finished goods 78,810 78,810 70,070 $242,550 258,720 Direct labor Materials purchased during March Factory overhead incurred during March: Indirect labor 25,870 15,630 Machinery depreciation Heat, light, and power 5,390 4,310 Supplies Property taxes Miscellaneous costs 3,770 7,010 a. Prepare a cost of goods manufactured statement for March Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Direct materials: Factory overhead: Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Factory overhead: Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Cost of goods manufactured b. Determine the cost of goods sold for March