A company reports the following for its first month of operations ending March 31' The company uses a predetermined overhead rate of 80% of direct materials cost to apply overhead. Direct labor used $ 19,520 Sales $ 43,599 Raw materials purchases 21,680 Cost of goods sold 31,366 Direct materials used 13,669 General and administrative expenses 4,756 Cost of goods manufactured 34,706 Selling expenses 4'21\" ': , Enter answers in the tabs below. Required 1 Required 2 Prepare an income statement for the month ended March 31