1. 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 $220,800 $203,030
Work in process 458,310 536,650
Finished goods 616,350 647,570
Direct labor $3,680,000
Materials purchased during March 2,803,310
Factory overhead incurred during March:
Indirect labor 336,450
Machinery depreciation 220,800
Heat, light, and power 184,000
Supplies 36,690
Property taxes 31,540
Miscellaneous costs 48,050
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.
Open spreadsheet
a. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar.
Johnstone Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended March 31
$ fill in the blank 3
Direct materials:
$ fill in the blank 5
fill in the blank 7
$ fill in the blank 9
fill in the blank 11
$ fill in the blank 13
fill in the blank 15
Factory overhead:
$ fill in the blank 17
fill in the blank 19
fill in the blank 21
fill in the blank 23
fill in the blank 25
fill in the blank 27
Total factory overhead fill in the blank 28
Total manufacturing costs incurred during March fill in the blank 29
Total manufacturing costs $ fill in the blank 30
fill in the blank 32
Cost of goods manufactured $ fill in the blank 33
b. Determine the cost of goods sold for March. Round your answer to the nearest dollar.
$fill in the blank 34
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