Cost data for Mix-A-Lot Manufacturing Company for the month ended March 31, 2016, are as follows:
Inventories
March 1
March 31
Materials
$315,000
$277,200
Work in process
214,200
239,400
Finished goods
163,800
189,000
March 31
Direct labor
$567,000
Materials purchased during May
604,800
Factory overhead incurred during May:
Indirect labor
60,480
Machinery depreciation
36,000
Heat, light, and power
12,600
Supplies
10,080
Property taxes
8,820
Miscellaneous costs
16,380
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.