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 $205,250 $176,520 Work in process 137,520 Finished goods 104,680 Direct labor $369,450 118,270 120,030 Materials purchased during March 394,080 Factory overhead incurred during March: Indirect labor 39,410 Machinery depreciation 23,810 Heat, light, and power 8,210 Supplies 6,570 Property taxes 5,750 Miscellaneous costs 10,670 a. Prepare a cost of goods manufactured statement for March. Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 b. Determine the cost of goods sold for March.
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 $205,250 $176,520 Work in process 137,520 Finished goods 104,680 Direct labor $369,450 118,270 120,030 Materials purchased during March 394,080 Factory overhead incurred during March: Indirect labor 39,410 Machinery depreciation 23,810 Heat, light, and power 8,210 Supplies 6,570 Property taxes 5,750 Miscellaneous costs 10,670 a. Prepare a cost of goods manufactured statement for March. Johnstone Manufacturing Company Statement of Cost of Goods Manufactured For the Month Ended March 31 b. Determine the cost of goods sold for March.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Transcribed Image Text: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 $205,250 $176,520
Work in process 137,520
Finished goods 104,680
Direct labor $369,450
118,270
120,030
Materials purchased during March 394,080
Factory overhead incurred during March:
Indirect labor 39,410
Machinery depreciation 23,810
Heat, light, and power 8,210
Supplies 6,570
Property taxes 5,750
Miscellaneous costs 10,670
a. Prepare a cost of goods manufactured statement for March.
Johnstone Manufacturing Company
Statement of Cost of Goods Manufactured
For the Month Ended March 31
b. Determine the cost of goods sold for March.
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