3. (23 points) The following information pertains to Bear Corporation for March 2022:

Selling and administrative expenses $90,000 Variable factory overhead 100,000 Direct materials purchases 130,000 Fixed factory overhead 60,000 Sales revenue 700,000 Direct labor 170,000

March 1 March 31

Direct materials $30,000 $38,000

Work In process 40,000 42,000

Finished goods 20,000 26,000

Calculate the following assuming there are no income taxes:

a. Direct materials used

b. Cost of goods manufactured

c. Cost of goods sold

d. Net income

e. conversion costs

f. prime costs