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	$	29,600		$	26,700
Work in process		21,400			46,400
Finished goods		78,900			68,600

Additional information for the month of March follows:

Raw materials purchases	$	41,900
Indirect materials used		2,000
Direct labor		63,900
Manufacturing overhead applied		36,500
Selling, general, and administrative expenses		23,500
Sales revenue		236,800

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.

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

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
Net Income (Loss) from Operations