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	$	29,100		$	26,000
Work in process		22,800			46,600
Finished goods		79,800			69,200

Additional information for the month of March follows:

Raw materials purchases	$	40,100
Indirect materials used		1,700
Direct labor		62,100
Manufacturing overhead applied		35,600
Selling, general, and administrative expenses		23,900
Sales revenue		236,900

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.