2 Stor Smart Company makes plastic organizing bins. The company has the following inventory balance March oints Raw materials Work in process Finished goods Beginning Inventory $28,400 22,000 78,400 Ending Inventory $26,600 46,900 68,800 eBook Additional information for the month of March follows Print Raw materials purchases Indirect materials used Direct labor Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue $ 40,400 1,800 63,700 36,400 24,300 236,900 References Required: 1. Based on the above information, prepare a cost of goods manufactured report 2. Based on the above information, prepare an income statement for the month of March, Comnlate this question by entering vour answers in the tabs below. Check my work mode : This shows what i % Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the above information, prepare a cost of goods manufactured report. STORSMART COMPANY Cost of Goods Manufactured Report For the Month of March 1$ 28,400 Beginning Raw Materials Inventory Plus: Raw Material Purchases Less: Indirect Material Used Less Ending Raw Materials Inventory Direct Materials Used in Production lo Direct Labor Manufacturing Overhead Applied 40,400 1,800 26,600 $ 42,200 63,700 1,800 36.400 $ 144,100 22,000 $ 166,100 46,900 $ 199,200 Total Current Manufacturing Costs Plus: Beginning Work in Process Inventory Total Work in Process Less: Ending Work in Process Inventory Cost of Goods Manufactured Required 2 > 1. Based on the above information, prepare a cost of goods manufactured report. 2. Based on the above information, prepare an income statement for the month of Marc Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the above information, prepare an income statement for the month of March STORSMART COMPANY Income Statement $ 236,900 For the Month of March Sales Revenue Less: Cost of Goods Sold Manufacturing Overhead Plus: Cost of Goods Manufactured Less: Ending Finished Goods Inventory Cost of Goods Sold 78.400 119,200 68,800 Gross Profit 12,800 X 108,100 24,300 24,300 X 83,800 $ 85,600 Selling, General, and Administrative Expenses Net Income (Loss) from Operations