Tyler Corporation reports the following results for its first month of operations ended December 31. Overhead is applied using a predetermined overhead rate of 80% of direct materials cost. Raw materials purchased Direct materials used Direct labor used Cost of goods manufactured $ 22,00 Sales 13,800 cost of goods sold 22,000 Selling expenses 35,600 General and administrative expenses $ 43,200 30,200 3,900 5.000 1. Prepare an income statement for the month ended December 31 2. Determine the December 31 ending inventory balances for Raw Materials, Work in Process and Finished Goods, Hint Because Tyler is in its first month of operations, each account begins with a so balance; also, there were no indirect materials used this month Complete this question by entering your answers in the tabs below. Required 1 Required 2 Prepare an income statement for the month ended December 31. TYLER CORPORATION Income Statement For Month Ended December 31 Operating expenses Required 2 > Tyler Corporation reports the following results forts first month of operations ended December it overhead is applied using a predetermined overhead rate of 80% of direct mens cost terlals wurchased 53,000 Saint 41,200 Directed 35. Cost of goods sold 30,160 est labore 22. Selling > Contactured 35. Generalitative 5.000 1. Prepare an income statement for the month ended December 2. Determine the December ending nventory balances for Raw Materials. Work in Process, and finished Goods Hint Because Tyler is its first month of operations, each account begins with a balance also there were no direct materials used this month Complete this question by entering your answers in the tabs below. 1 M2 Determine the Decembriending investory balances for water, worinnished Goods. Because Two month of portion and account on with a 10 bothere were not to see Work in Provence Deng Other thing Ed Eating Fished Goods Edin