Question

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	$229,750		$204,480
   Work in process	158,530		141,090
   Finished goods	119,470		139,050

   Direct labor		$413,550
   Materials purchased during March		441,120
   Factory overhead incurred during March:
   	Indirect labor	44,110
   	Machinery depreciation	26,650
   	Heat, light, and power	9,190
   	Supplies	7,350
   	Property taxes	6,430
   	Miscellaneous costs	11,950

   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
   			$
   Direct materials:
   	$
   	$
   		$
   Factory overhead:
   	$
   Total factory overhead
   Total manufacturing costs incurred during March
   Total manufacturing costs			$
   Cost of goods manufactured			$

   b. Determine the cost of goods sold for March.
   $

Question #2

Cost Flow Relationships

The following information is available for the first month of operations of Bahadir Company, a manufacturer of mechanical pencils:

Sales	$332,400
Gross profit	193,790
Cost of goods manufactured	166,200
Indirect labor	72,130
Factory depreciation	10,970
Materials purchased	102,380
Total manufacturing costs for the period	191,130
Materials inventory, ending	13,630

Using the above information, determine the following missing amounts:

a. Cost of goods sold	$
b. Finished goods inventory at the end of the month	$
c. Direct materials cost	$
d. Direct labor cost	$
e. Work in process inventory at the end of the month	$

Answer 1

Answer to Q#1 (First question in the list):