This problem asks questions about the firm's activities based on the balance sheets and income statement. The following items appear on balance sheet (post closing) for February 29 and for March 31 of EeeDee Company. EeeDee Company prepares financial statements monthly. February 29 Raw materials $10,000 Work in process 15,000 Finished goods inventory 10,000 Allowance for uncollectible accounts (Cr balance) 5,000 During the month of March, EeeDee Company incurred the following costs: March 31 $ 7,000 25,000 14,000 10,000 Raw materials used in production Labor costs used in production Labor costs used in administration and marketing Factory overhead costs for production Office administration costs, other than labor Accounts receivable written off as uncollectible $130,000 80,000 10,000 50,000 12,000 9,000 In addition, the total sale for March is $600,000. The following journal entries for Work-in-process might be helpful. When raw materials, labor and factory are used for production, the journal entry is Dr. Work-in-process Cr. Raw material Labor used for production Factory overhead for production When the production completes, the journal entry is Dr. Finished goods inventory Cr. Work-in-process Required: a. What was the acquisition cost of raw materials purchased during the month of March? b. When the manufacturing process of goods is completed, the cost associated with the production of these goods is transferred from Work-in-process to Finished Goods Inventory. What was the total cost of goods that completed the manufacturing process during the month of March? c. What was the cost of Goods Sold during the month of March? d. What was the Bad Debt expense for the month of March? e. What was the Income (before taxes) for the month of March? (Hint: The expense includes COGS, Bad Debt Expense, and period cost.)