Question Content AreaStatement of Cost of Goods Manufactured for a Manufacturing CompanyCost data for Johnstone Manufacturing Company for the month ended March 31 are as follows:InventoriesMarch 1March 31Materials$217,500 $184,880 Work in process147,900 125,720 Finished goods113,100 123,870 Direct labor$391,500Materials purchased during March417,600Factory overhead incurred during March: Indirect labor41,760 Machinery depreciation25,230 Heat, light, and power8,700 Supplies6,960 Property taxes6,090 Miscellaneous costs11,310

A cost sheet is a method of classifying the total costs into different categories. It helps to…

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College Accounting, Chapters 1-27

23rd Edition

ISBN:9781337794756

Author:HEINTZ, James A.

Publisher:HEINTZ, James A.

Chapter26: Manufacturing Accounting: The Job Order Cost System

Section: Chapter Questions

Problem 2SEA: SCHEDULE OF COST OF GOODS MANUFACTURED The following information is supplied for Maupin...

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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	$217,500		$184,880
Work in process	147,900		125,720
Finished goods	113,100		123,870

Direct labor	$391,500
Materials purchased during March	417,600
Factory overhead incurred during March:
	Indirect labor	41,760
	Machinery depreciation	25,230
	Heat, light, and power	8,700
	Supplies	6,960
	Property taxes	6,090
	Miscellaneous costs	11,310

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