Johnson & Johnson's pharmaceutical division provided the following data for March 2023:

Description	Amount (in $)
Raw Material Inventory (1/3)	100,000
Purchases	600,000
Raw Material Inventory (31/3)	80,000
Direct Labor	400,000
Factory Overhead	200,000
Finished Goods Inventory (1/3)	150,000
Finished Goods Inventory (31/3)	110,000
Sales	3,000,000
Operating Expenses	500,000

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.