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	26,900
Work in process	22,900	45,300
Finished goods	78,300	69,300

Additional information for the month of March follows:

Raw materials purchases	41,600
Indirect materials used	1,100
Direct labor	63,400
Manufacturing overhead applied	35,900
Selling, general, and administrative expenses	23,800
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.