a. Purchased $64,900 of materials. b. Used $50,000 of direct materials in production. c. Incurred $74,600 of direct labor wages. d. Incurred $105,100 of factory overhead. e. Transferred $174,600 of work in process to finished goods. f. Sold goods for $312,200. g. Sold goods with a cost of $138,900. h. Incurred $79,800 of selling expense. i. Incurred $35,000 of administrative expense. Using the information given, complete the following: a. Prepare the March income statement for Digital Vibe Manufacturing Company. Digital Vibe Manufacturing Company Income Statement For the Month Ended March 31 Revenues Cost of goods sold Gross profit 312,200 138,900 69,500 X Operating expenses: Selling expenses 79,800 Administrative expenses 35,000 Total operating expenses Net income 114,800 V 277,200 X