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	$	28,900		$	26,100
Work in process		21,500			46,400
Finished goods		79,900			69,000

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	$	41,600
Indirect materials used		1,500
Direct labor		63,700
Manufacturing overhead applied		36,000
Selling, general, and administrative expenses		23,300
Sales revenue		237,000

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.