As the Management Accountant for Bynami Enterprises,Inc March 31 Inventories Were as Follows: Materials,$540,200; Work in Process,$795,400;

Essay

As the management accountant for Bynami Enterprises,Inc.,you have been asked to prepare a statement of cost of goods manufactured at the end of the first quarter.Account balances at that time were as follows:
$\begin{array}{lr}\text { Materials inventory, January 1, 20xz } & \$ 510,500 \\\text { Work in process inventory, January 1, 20xx } & 697,300 \\\text { Finished goods inventory, January 1, 20xx } & 701,200 \\\text { Direct materials purchased during the quarter } & 1,105,400 \\\text { Direct labor costs } & 154,800 \\\text { Depreciation expense, plant and equipment } & 16,200 \\\text { Plant supervisors' salaries } & 50,600 \\\text { Insurance expense, plant and equipment } & 1,100 \\\text { Utilities expense, plant } & 4,000 \\\text { Indirect labor costs } & 16,800 \\\text { Manufacturing supplies expense } & 3,400 \\\text { Small tools expense } & 1,500\end{array}$

March 31 inventories were as follows: materials,$540,200; work in process,$795,400; and finished goods,$604,100.Prepare the statement of cost of goods manufactured for the first quarter of 20xx.