Coca-Cola provided the following information for its beverage division for March 2023:

Description	Amount (in $)
Opening Inventory (Raw Materials)	90,000
Purchases	450,000
Closing Inventory (Raw Materials)	70,000
Direct Labor	300,000
Manufacturing Overhead	200,000
Opening Inventory (Finished Goods)	140,000
Closing Inventory (Finished Goods)	100,000
Sales	2,500,000
Administrative Expenses	400,000

Requirements:

1. Calculate the Raw Materials Used.
2. Determine the Total Manufacturing Costs.
3. Compute the Cost of Goods Manufactured.
4. Calculate the Cost of Goods Sold.
5. Prepare the Income Statement for March 2023.