Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories Materials Work in process Finished goods January 1 $142,250 98,150 73,970 January 31 $123,760 85,390 84,160 Direct labor Materials purchased during January Factory overhead incurred during January: $256,050 273,120 27,310 16,500 5,690 4,550 3,980 7,400 a. Prepare a cost of goods manufactured statement for January. Indirect labor Machinery depreciation Heat, light, and power Supplies Property taxes Miscellaneous costs Sandusky Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended January 31 Work in process inventory, January 1 Direct materials: Materials inventory, January 1 Purchases Cost of materials available for use Materials inventory, January 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 January Total manufacturing costs Work in process inventory, January 31 Cost of goods manufactured b. Determine the cost of goods sold for January