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 $240,000 $220,680 Work in process 498,170 583,300 Finished goods 669,950 703,870 Direct labor $4,000,000 Materials purchased during March 3,047,080 Factory overhead incurred during March: Indirect labor 365,710 Machinery depreciation 240,000 Heat, light, and power 200,000 Supplies 39,880 Property taxes 34,280 Miscellaneous costs 52,230 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 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 Determine the cost of goods sold for March. Round your answer to the nearest dollar. $fill in the blank 34

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 $240,000 $220,680 Work in process 498,170 583,300 Finished goods 669,950 703,870 Direct labor $4,000,000 Materials purchased during March 3,047,080 Factory overhead incurred during March: Indirect labor 365,710 Machinery depreciation 240,000 Heat, light, and power 200,000 Supplies 39,880 Property taxes 34,280 Miscellaneous costs 52,230 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 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 Determine the cost of goods sold for March. Round your answer to the nearest dollar. $fill in the blank 34

FINANCIAL ACCOUNTING

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ISBN:9781259964947

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Publisher:Libby

Chapter1: Financial Statements And Business Decisions

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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		$240,000	$220,680
Work in process		498,170	583,300
Finished goods		669,950	703,870

Direct labor		$4,000,000
Materials purchased during March		3,047,080
Factory overhead incurred during March:
Indirect labor		365,710
Machinery depreciation		240,000
Heat, light, and power		200,000
Supplies		39,880
Property taxes		34,280
Miscellaneous costs		52,230

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

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

Determine the cost of goods sold for March. Round your answer to the nearest dollar.

$fill in the blank 34

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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:
DATA
March 1
$240.000
Inventories
March 31
Materials
$220,680
Work in process
Finished goods
498,170
669,950
583,300
703,870
Direct labor
$4,000,000
Materials purchased during March
Factory overhead incurred during March:
Indirect labor
3,047,080
Machinery depreciation
Heat, light, and power
365,710
240,000
200,000
Supplies
Property taxes
39,880
34,280
Miscellaneous costs
52,230
Select the corresponding accounts in the dropdowns in cells B26, B28:B33, B35:B40, B44. Using formulas and cell references, perform the required analysis, and input your answers
into the green cells in the C, D, and E columns. Transfer the numeric results for the green entry cells (E26, C28:C31, D32:D33, C35:C40, D41, E42:E45, C47) into the appropriate fields
in CNOWV2 for grading.

Johnstone Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended March 31
Formulas
Work in process inventory, March 1
$498,170
Your answer should be a formula.
Direct materials:
$240,000
3,047,080
Materials inventory, March 1
Your answer should be a formula.
Purchases
Your answer should be a formula,
Cost of materials available for use
$3,287,080
Your answer should be a formula.
Materials inventory, March 31
Cost of direct materials used in production
220,680
Your answer should be a formula.
$3,066,400
40,000
Your answer should be a formula.
Direct labor
Your answer should be a formula.
Factory overhead:
Indirect labor
$365,710
Your answer should be a formula.
Your answer should be a formula.
Machinery depreciation
Heat, light, and power
Supplies
Property taxes
Miscellaneous costs
240,000
200,000
Your answer should be a formula.
39,880
Your answer should be a formula,
34,280
Your answer should be a formula.
52,230
Your answer should be a formula.
Y
Total factory overhead
932,100
Your answer should be a formula.
Your answer should be a formula.
Total manufacturing costs incurred during March
Total manufacturing costs
Work in process inventory, March 31
Cost of goods manufactured
7,998,500
$8,496,670
583,300
$7.913,370
Your answer should be a formula.
Your answer should be a formula.
Your answer should be a formula.
Cost of goods sold for March
$7,879,450
Your answer should be a formula.

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