e EX 1-10 Total Financial statements of a manufacturing firm Obj. 4 The following events took place for Digital Vibe Manufacturing Company during March, the 0 first month of its operations as a producer of digital video monitors: A Purchased $168,500 of materials. B. Used $149,250 of direct materials in production. C. Incurred $360,000 of direct labor wages. D. Incurred $120,000 of factory overhead. E. Transferred $600,000 of work in process to finished goods. F. Sold goods for $875,000. G. Sold goods with a cost of $525,000. H. Incurred $125,000 of selling expense. 1. Incurred $80,000 of administrative expense. S-TX3 ox sto il litrong A Using the information given, complete the following: 1803 1001 A. Prepare the March income statement for Digital Vibe Manufacturing Company. B. Determine the inventory balances at the end of the first month of operations.