Problem Set: Module 1

1. PR.01.02A
2. EX.01.15.EXCEL.ALGO
3. EX.01.09.EXCEL.ALGO

Progress:2/3 items

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• Learning Objective 3

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Question Content Area

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		$213,600			$196,410
Work in process		443,370			519,150
Finished goods		596,250			626,460
Direct labor					$3,560,000
Materials purchased during March					2,711,900
Factory overhead incurred during March:
Indirect labor					325,480
Machinery depreciation					213,600
Heat, light, and power					178,000
Supplies					35,490
Property taxes					30,510
Miscellaneous costs					46,480

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.