Materials purchased during March2,590,020Factory overhead incurred during March:Indirect labor310,850Machinery depreciation204,000Heat, light, and power170,000Supplies33,900Property taxes29,140Miscellaneous costs44,400This 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 spreadsheeta. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar.Johnstone Manufacturing CompanyStatement of Cost of Goods ManufacturedFor the Month Ended March 312$Direct materials:$Factory overhead:Total factory overheadTotal manufacturing costs incurred during MarchTotal manufacturing costs2$Cost of goods manufactured$b. Determine the cost of goods sold for March. Round your answer to the nearest dollar.$ Statement of cost of goods manufactured for a manufacturing companyCost data for Johnstone Manufacturing Company for the month ended March 31 are as follows:InventoriesMarch 1March 31Materials$204,000$187,580Work in process423,440495,810Finished goods569,460598,300Direct labor$3,400,000Materials purchased during March2,590,020Factory overhead incurred during March:Indirect labor310,850Machinery depreciation204,000Heat, light, and power170,000Supplies33,900Property taxes29,140Miscellaneous costs44,400This 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 spreadsheeta. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar.Johnstone Manufacturing CompanyStatement of Cost of Goods ManufacturedFor the Month Ended March 31Direct materials:2$$2$Factory overhead:$

The statement of cost of goods manufactured include the total direct and indirect costs incurred for…

Inventories March 1 March 31 Materials $204,000 $187,580 Work in process 423,440 495,810 Finished goods 569,460 598,300 Direct labor $3,400,000 Materials purchased during March 2,590,020 Factory overhead incurred during March: Indirect labor 310,850 Machinery depreciation 204,000 Heat, light, and power 170,000 Supplies 33,900 Property taxes 29,140 Miscellaneous costs 44,400 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.

Inventories March 1 March 31 Materials $204,000 $187,580 Work in process 423,440 495,810 Finished goods 569,460 598,300 Direct labor $3,400,000 Materials purchased during March 2,590,020 Factory overhead incurred during March: Indirect labor 310,850 Machinery depreciation 204,000 Heat, light, and power 170,000 Supplies 33,900 Property taxes 29,140 Miscellaneous costs 44,400 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.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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