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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 $$199,200$  $$183,160$ 

Work in process $413,480484,130$ 

Finished goods $556,060584,200$ 

Direct labor $$3,320,000$ 

Materials purchased during March $2,529,080$ 

Factory overhead incurred during March:

Indirect labor $303,540$ 

Machinery depreciation $199,200$ 

Heat, light, and power $166,000$ 

Supplies $33,100$ 

Property taxes $28,450$ 

Miscellaneous costs $43,350$

Transcribed Image Text:

Work in process inventory, March 1 Direct materials: Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 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 $ $ $ $ b. Determine the cost of goods sold for March. Round your answer to the nearest dollar. LA LA tA $ Work in process inventory, March 1 Direct materials: Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 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 $ $ $ $ b. Determine the cost of goods sold for March. Round your answer to the nearest dollar. LA LA tA $

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