Cost data for Sandusky Manufacturing Company for the month ended January 31 are as follows:
Inventories January 1 January 31
Materials $180,000 $145,500
Work in process 334,600 290,700
Finished goods 675,000 715,000
Direct labor $2,260,000
Materials purchased during January 1,375,000
Factory overhead incurred during January:
Indirect labor 115,000
Machinery depreciation 90,000
Heat, light, and power 55,000
Supplies 18,500
Property taxes 10,000
Miscellaneous costs 33,100
Required:
a. Prepare a cost of goods manufactured statement for January.