Beena Corporation has the following information available about its July, 2020 production: Finished goods inventory on July 1, 2020 is $27,980 and on July 31, 2020 is 1. $24,550. Work in process inventory on July 1, 2020 is $24,550 and on July 31, 2020 is 2. $22,650. 3. Raw materials inventory on July 1, 2020 is $9,810 and on July 31, 2020 is $8,200. Direct materials used in production in July were $44,300. Direct labour incurred in 4. production in July was $29,800 and manufacturing overhead applied to production is $42,000. 5. Net Sales for July, 2020 was $156,100. Prepare a condensed cost of goods manufactured schedule for July, 2020. Beena Corporation Cost of Goods Manufactured Month Ended July 31, 2020 Work in Process, July 31, 2020 v 24550 $ Direct Materials Used 44300 $ Direct Labour 29800 Manufacturing Overhead 42000 Total Manufacturing Cost 116100 Total Cost of Work in Process V 140650 Less Work in Process, July 31, 2020 v 22650 Cost of Goods Manufactured 118000 $ Prepare an income statement up to gross profit for July, 2020. Beena Corporation Income Statement Month Ended July 31, 2020 v