Cost data for Disksan Manufacturing Company for the month ended January 31 are as follows: Inventories January 1 January 31 Materials $311,000 $276,000 Work in process 214,400 238,400 Finished goods 163,400 190,000 January 31 Direct labor $560,000 Materials purchased during January 608,000 Factory overhead incurred during January: Indirect labor 60,860 Machinery depreciation 35,000 Heat, light, and power 12,600 Supplies 8,580 Property taxes 8,680 Miscellaneous costs 16,460
Required:
A. Prepare a cost of goods manufactured statement for January. Refer to the Labels and 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. Be sure to complete the statement heading.
B. Determine the cost of goods sold for January.
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