Statement of Cost of Goods Manufactured for a Manufacturing Company

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

Inventories March 1 March 31
Materials $216,000 $198,610
Work in process 448,350 524,970
Finished goods 602,950 633,480

Line Item Description Amount
Direct labor $3,600,000
Materials purchased during March 2,742,370
Factory overhead incurred during March:
Line Item Description Amount
Indirect labor 329,140
Machinery depreciation 216,000
Heat, light, and power 180,000
Supplies 35,890
Property taxes 30,850
Miscellaneous costs 47,010