Statement of Cost of Goods Manufactured for a Manufacturing Company

Cost data for Firetree Manufacturing Company for the month ended March 31 are as follows:

InventoriesMarch 1March 31Materials$200,250$180,230Work in process134,170120,750Finished goods102,130120,750

Line Item DescriptionAmountDirect labor$360,450Materials purchased during March384,480Line Item DescriptionAmountIndirect labor38,450Machinery depreciation23,230Heat, light, and power8,010Supplies6,410Property taxes5,610Miscellaneous costs10,410

Question Content Area

a. Prepare a cost of goods manufactured statement for March.

Costs TypeAmountAmountAmountWork in process inventory, March 1 Direct materials: Materials inventory, March 1 Purchases Cost of materials available for use Materials inventory, March 31 Cost of direct materials used in production Direct labor Factory overhead: Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Total factory overhead Total manufacturing costs incurred during March Total manufacturing costs Work in process inventory, March 31 Cost of goods manufactured

Question Content Area

b. Determine the cost of goods sold for March. $