StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Raw materials Work in process Finished goods Beginning Inventory $29,000 22.900 78,200 Ending Inventory $26,000 46,100 69,800 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 $ 42,000 1,100 63,200 36,500 24, 200 237,100 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: Required 2 Based on the above information, prepare a cost of goods manufactured report. STORSMART COMPANY Cost of Goods Manufactured Report For the Month of March Direct Materials used in Production Total Current Manufacturing Costs $ 0 Additional information for the month of March follows: Raw materiale purchases Indirect material uned Direct labor Manufacturing overhead applied Selling, general, and administrative expenses Sales revenue $ 42,000 1,100 63,200 36,500 24,200 237,100 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 a cost of goods manufactured report. STORSMART COMPANY Cost of Goods Manufactured Report For the Month of March Direct Materials Used in Production Total Current Manufacturing Costs $ 0 Total Work in Process $ 0 Cost of Goods Manufactured Roque Required 2 > StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Raw materials Work in process Finished goods Beginning Inventory $29,000 22,900 78,200 Finding Inventory $26,000 46,100 69,800 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 $ 42,000 1,100 63,200 36,500 24,200 237,100 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. STORSMART COMPANY Income Statement For the Month of March Less: Cost of Goods Sold Cost of Goods Sold Not Income (Loss) from Operations
