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: March 1 March 31 Inventories Materials $ 142,000 $123,540 Work in process 95,140 82,770 Finished goods 72,420 82,770 Direct labor $255,600 272,640 Materials purchased during March Factory overhead incurred during March: Indirect labor 27,260 Machinery depreciation 16,470 Heat, light, and power 5,680 4,540 Supplies 3,980 Property taxes Miscellaneous costs 7,380 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 Work in nrocess inventory, March 1. 95.140 Heat, light, and power 5,680 Supplies 4,540 Property taxes 3,980 Miscellaneous costs 7,380 Total factory overhead 65,310 Total manufacturing costs incurred during March 612,010 Total manufacturing costs 707,150 Work in process inventory, March 31 624,380 Cost of goods manufactured b. Determine the cost of goods sold for March