Business, 22.08.2020 16:01 carterh166

Statement of cost of goods manufactured for a manufacturing company Obj. Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows:.
Inventories March 1 March 31
Materials $210,000 $193,100
Work in process 435,900 510,400
Finished goods 586,200 615,900
Direct labor $3,500,000
Materials purchased during March 2,666,200
Factory overhead incurred during March:
Indirect labor 320,000
Machinery depreciation 210,000
Heat, light, and power 175,000
Supplies 34,900
Property taxes 30,000
Miscellaneous costs 45,700
a. Prepare a cost of goods manufactured statement for March.
b. Determine the cost of goods sold for March.

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