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		$189,600			$174,340
Work in process		393,550			460,820
Finished goods		529,260			556,070
Direct labor					$3,160,000
Materials purchased during March					2,407,190
Factory overhead incurred during March:
Indirect labor					288,910
Machinery depreciation					189,600
Heat, light, and power					158,000
Supplies					31,510
Property taxes					27,080
Miscellaneous costs					41,260

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
   Machinery depreciation					$
   Direct materials:
   	$
   	$
   			$
   Factory overhead:
   	$
   Total factory overhead
   Total manufacturing costs incurred during March
   Total manufacturing costs					$
   Cost of goods manufactured					$

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