StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March:

	Beginning Inventory			Ending Inventory
Raw materials	$	29,500		$	25,900
Work in process		22,700			46,900
Finished goods		78,000			68,600

Additional information for the month of March follows:

Raw materials purchases	$	40,400
Indirect materials used		1,700
Direct labor		63,900
Manufacturing overhead applied		35,100
Selling, general, and administrative expenses		24,200
Sales revenue		237,900

Required: 1. Based on the above information, prepare a cost of goods manufactured report.

2. Based on the above information, prepare an income statement for the month of March.

StorSmart Company makes plastic organizing bins. The company has the following Inventory balances at the beginning and end March: Raw materials Work in process Finished goods Beginning Inventory $29,500 22,700 78,eee Ending Inventory $25,980 46,988 68,60 Additional Information for the month of March follows: Raw materials purchases Indirect materials used Direct labor Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue $ 48, 4ee 1,700 63.900 35,180 24,200 237,900 Required: 1. Based on the above Information, prepare a cost of goods manufactured report 2. Based on the above Information, prepare an Income statement for the month of March. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Based on the above information, prepare an income statement for the month of March. STOR SMART COMPANY Income Statement For the Month of March Less: Cost of Goods Sold Cost of Goods Sold Net Income (Loss) from Operations