canvasilli is.edu Submit: Problem Set (PS) Weekly Homework #6 2 flow of costs; schedule of cost of goods manufactured (Spts): Below is the information for the current month ended 1/31/2023 for Bird's Beans, Inc., a coffee manufacturer. Assume all Raw Materials were used as Direct Materials and that all Factory Overhead Costs are assigned to Work in Process Inventory. Raw materials inventory, beginning $72,431 Raw materials inventory, ending $67,935 Work in process inventory, beginning $41,603 Work in process inventory, ending $43,929 Finished goods inventory, beginning $240,372 Finished goods inventory, ending $236,148 Direct Materials Purchased $392,444 Direct labor used $671,090 Factory overhead costs assigned to WIP $191,707 General and administrative expenses $317,340 Selling expenses $500,270 Sales $3,011,736 Cash $1,009,450 Accounts receivable, net $610,555 Calculate the cost of direct materials used during the month. Calculate total manufacturing costs for the month. Calculate the cost of goods manufactured (COGM) for the month. Calculate the cost of goods sold (COGS) during the month. Prepare an income statementfor the month ended 1/31/2023 (assume no income tax expenses; see Thursday's class slides as well as exhibits 1.12 and 1.15 from ch.1 of Wild, Managerial Accounting, in our custom text for examples of format for a manufacturer). 99-957.\