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 Materials March 1 March 31 Work in process Finished goods $240,000 498,170 669,950 $220,680 583,300 703,870 Direct labor $4,000,000 3,047,080 Materials purchased during March Factory overhead incurred during March: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs 365,710 240,000 200,000 39,880 34,280 52,230 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. a. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar. 498,170 Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 Work in process inventory, March 1 Direct materials: Materials inventory, March 1 $ 240,000 Purchases 3,047,080 Cost of materials available for use $ 3,287,080 Materials inventory, March 31 220,680 Cost of direct materials used in production $ 3,066,400 Direct labor 4,000,000 Factory overhead: Indirect labor 365,710 Machinery depreciation 240,000 Heat, light, and power 200,000 Supplies 39,880 Property taxes 34,280 Miscellaneous costs 52,230 File Explorer Out & About Supplies Property taxes 39,880 34,280 Miscellaneous costs 52,230 932,100 Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Work in process inventory, March 31 $ 583,300 Cost of goods manufactured $ b. Determine the cost of goods sold for March. Round your answer to the nearest dollar