2. Tyge Corporation recorded the following activities during its first month of operations.

Purchased materials costing $300,000.

Used direct materials in production costing $280,000.

Incurred direct labor costs of $220,000, of which $190,000 had actually been paid at the end of the month.

Applied manufacturing overhead at a rate of $25 per direct labor hour. (Direct labor workers earn $16 per hour.)

Transferred completed jobs costing $675,000 to finished goods.

The ending finished good is 55,000

Sold completed jobs for $900,000.

Incurred selling and administrative costs of $130,000 during the month.

a. Determine the cost of good manufactured and cost of good sold.

b. Determine is the net income.

c. Determine the company's inventory balances at the end of its first month of operations.