StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March Ending Raw materials Work in process Finished goods Beginning Inventory $28,000 21,600 79,900 Inventory $26,100 45,700 69,300 Additional information for the month of March follows StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March Raw materials purchases Indirect materials used Direct labor Manufacturing overhead applied Selling, general, and administrative $ 40,800 1,300 63,500 35,300 expenses Sales revenue 23,700 236,300 Required 1. Based on the above information, prepare a cost of goods manufactured report. STORSMART COMPANY Cost of Goods Manufactured Report For the Month of March Beginning Raw Materials Invento $ 28,000 Plus: Raw Material Purchases 40,80 ,800 Less: Indirect Material Used 1,30 Less: Ending Raw Materials Invento Direct Materials Used in Production Direct Labor Manufacturing Overhead Manufacturing Overhead Total Current Manufacturing Costs 26,10 41,400 63,50 35,30 41,40 181,600 Plus: Beginning Work in 21,600 Process Inventor Total Work in Process S 203,200 Less: Ending Work in Process 45,70 Invento 157,50 2. Based on the above information, prepare an income statement for the month of March Cost of Goods Manufactured