Question

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 2016. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. Enter all amounts as positive numbers.
B.	Determine the cost of goods sold for March 2016.

Amount Descriptions

Amount Descriptions
Direct labor
Finished goods inventory, March 1, 2016
Finished goods inventory, March 31, 2016
Heat, light, and power
Indirect labor
Machinery depreciation
Materials inventory, March 1, 2016
Materials inventory, March 31, 2016
Miscellaneous cost
Property taxes
Purchases
Supplies
Work in process inventory, March 1, 2016
Work in process inventory, March 31, 2016

Statement of Cost of Goods Manufactured

Prepare a cost of goods manufactured statement for March 2016. Refer to the Amount Descriptions list provided for the exact wording of the answer choices for text entries. “Less” or “Plus” will automatically appear if it is required. Enter all amounts as positive numbers.

Mix-A-Lot Manufacturing Company

Statement of Cost of Goods Manufactured

For the Month Ended March 31, 2016

1
2	Direct materials:
3
4
5	Cost of materials available for use
6
7	Cost of direct materials used
8
9	Factory overhead:
10
11
12
13
14
15
16	Total factory overhead
17	Total manufacturing costs incurred
18	Total manufacturing costs
19
20	Cost of goods manufactured

Cost of Goods Sold

Determine the cost of goods sold for March 2016.

Answer 1