Reference no: EM132477067

StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March:

                                             Beginning Inventory                             Ending Inventory

Raw materials                     $28,700                                   $26,700

Work in process                22,100                                         46,400

Finished goods                 79,900                                          69,000

Additional information for the month of March follows:

Raw materials purchases$41,600

Indirect materials used 1,500

Direct labor 62,900

Manufacturing overhead applied 35,200

Selling, general, and administrative expenses 24,200

Sales revenue 237,400

Required:

Question 1. Based on the above information, what is the cost of goods manufactured report.

Question 2. Based on the above information, what is the income statement for the month of March.