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Problem 3. Statement of Costs of Goods Manufactured and Income statement. Spring Inc. provides the following budgeted data about its operations for the current month: Required: a. Compute the direct materials costs placed into the production process. b. Prepare the statement of the costs of goods manufactured for the current month. c. Compute the costs of goods sold. d. Prepare the income statement for Spring for the current month. (Show the working clearly). Solution a. Direct materials used in the production process d