Question

In: Accounting

Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows: Inventories...

Cost data for Johnstone Manufacturing Company for the month ended March 31 are as follows:

Inventories March 1 March 31
Materials $207,600 $190,890
Work in process 430,920 504,560
Finished goods 579,510 608,850

Direct labor $3,460,000
Materials purchased during March 2,635,720
Factory overhead incurred during March:
Indirect labor 316,340
Machinery depreciation 207,600
Heat, light, and power 173,000
Supplies 34,500
Property taxes 29,650
Miscellaneous costs 45,180

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

  1. Prepare a cost of goods manufactured statement for March. Round your answers to the nearest dollar

Solutions

Expert Solution

Answer :-

Statement of Cost of Goods Manufactured

For the Month ended 31 March
Materials
Opening Material Inventory $         207,600.00
Add:- Purchase of Material $      2,635,720.00
Less:- Closing Material Inventory $        (190,890.00)
Material Used in Production ( A ) $      2,652,430.00
Direct Labour ( B ) $      3,460,000.00
Factory Overhead ( C )
Indirect labor $       316,340.00
Machinery depreciation $       207,600.00
Heat, light, and power $       173,000.00
Supplies $         34,500.00
Property taxes $         29,650.00
Miscellaneous costs $         45,180.00
Total Manufacturing Cost ( A + B + C ) $      6,918,700.00
Add:- Opening WIP $         430,920.00
Less:- Closing WIP $        (504,560.00)
Cost of Goods Manufactured for the Month $      6,845,060.00
Add:- Opening Finished Goods Inventory $         579,510.00
Less:- Closing Finished Goods Inventory $        (608,850.00)
Cost Of Goods Sold $      6,815,720.00

ekkarill92 answered 1 year ago
Next > < Previous

Related Solutions

data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories...
data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories March 1 March 31 Materials $310,000 $276,600 Work in process 215,200 238,400 Finished goods 162,800 190,100 March 31 Direct labor $565,000 Materials purchased during the month 604,800 Factory overhead incurred during the month: Indirect labor 60,440 Machinery depreciation 35,000 Heat, light, and power 13,600 Supplies 8,540 Property taxes 8,860 Miscellaneous costs 16,400 Required: A. Prepare a cost of goods manufactured statement for March 2016....
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $310,000 $276,600 Work in process 215,200 238,400 Finished goods 162,800 190,100 January 31 Direct labor $565,000 Materials purchased during the month 604,800 Factory overhead incurred during the month: Indirect labor 60,440 Machinery depreciation 35,000 Heat, light, and power 13,600 Supplies 8,540 Property taxes 8,860 Miscellaneous costs 16,400 Required: a. Prepare a cost of goods manufactured statement for January. Refer...
Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories...
Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $184,500 $158,670 Work in process 121,770 104,720 Finished goods 94,100 106,310 Direct labor $332,100 Materials purchased during January 354,240 Factory overhead incurred during January: Indirect labor 35,420 Machinery depreciation 21,400 Heat, light, and power 7,380 Supplies 5,900 Property taxes 5,170 Miscellaneous costs 9,590 a. Prepare a cost of goods manufactured statement for January. Disksan Manufacturing Company Statement of Cost...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $305,000 $277,200 Work in process 214,200 238,600 Finished goods 162,800 190,500 January 31 Direct labor $562,000 Materials purchased during the month 607,000 Factory overhead incurred during the month: Indirect labor 60,600 Machinery depreciation 36,000 Heat, light, and power 12,900 Supplies 8,100 Property taxes 8,720 Miscellaneous costs 16,300 Required: a. Prepare a cost of goods manufactured statement for January. Refer...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories...
Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $142,500 $125,400 Work in process 98,330 86,530 Finished goods 72,680 85,270 Direct labor $256,500 Materials purchased during January 273,600 Factory overhead incurred during January: Indirect labor 27,360 Machinery depreciation 16,530 Heat, light, and power 5,700 Supplies 4,560 Property taxes 3,990 Miscellaneous costs 7,410 a. Prepare a cost of goods manufactured statement for January. Sandusky Manufacturing Company Statement of Cost...
Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows:...
Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories March 1 March 31 Materials $307,000 $277,600 Work in process 214,000 238,400 Finished goods 163,000 187,000 March 31 Direct labor $566,000 Materials purchased during the month 607,200 Factory overhead incurred during the month: Indirect labor 60,860 Machinery depreciation 35,000 Heat, light, and power 12,800 Supplies 8,400 Property taxes 8,200 Miscellaneous costs 16,360 Required: A. Prepare a cost of goods manufactured statement for March...
Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows:...
Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows: Inventories March 1 March 31 Materials $314,000 $276,800 Work in process 216,000 239,800 Finished goods 163,200 189,000 March 31 Direct labor $567,000 Materials purchased during the month 606,600 Factory overhead incurred during the month: Indirect labor 60,520 Machinery depreciation 32,000 Heat, light, and power 12,200 Supplies 8,220 Property taxes 8,880 Miscellaneous costs 16,460 Required: A. Prepare a cost of goods manufactured statement for March...
Statement of Cost of Goods Manufactured for a Manufacturing Company Cost data for Johnstone Manufacturing Company...
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: InventoriesMarch 1March 31 Materials$149,750 $130,280 Work in process103,330 89,890 Finished goods77,870 88,590 Direct labor$269,550 Materials purchased during March287,520 Factory overhead incurred during March: Indirect labor28,750 Machinery depreciation17,370 Heat, light, and power5,990 Supplies4,790 Property taxes4,190 Miscellaneous costs7,790 a. Prepare a cost of goods manufactured statement for March. Johnstone Manufacturing Company Statement of Cost of Goods Manufactured...
Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone Manufacturing Company...
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 $189,600 $174,340 Work in process 393,550 460,820 Finished goods 529,260 556,070 Direct labor $3,160,000 Materials purchased during March 2,407,190 Factory overhead incurred during March: Indirect labor 288,910 Machinery depreciation 189,600 Heat, light, and power 158,000 Supplies 31,510 Property taxes 27,080 Miscellaneous costs 41,260 This information has been collected in...
Statement of cost of goods manufactured for a manufacturing company Cost data for Johnstone Manufacturing Company...
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 $180,000 $165,510 Work in process 373,630 437,480 Finished goods 502,460 527,900 Direct labor $3,000,000 Materials purchased during March 2,285,310 Factory overhead incurred during March: Indirect labor 274,280 Machinery depreciation 180,000 Heat, light, and power 150,000 Supplies 29,910 Property taxes 25,710 Miscellaneous costs 39,170 This information has been collected in...
ADVERTISEMENT
Subjects
ADVERTISEMENT
Latest Questions
ADVERTISEMENT