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StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the...

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Accounting

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StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Ending Inventory Raw materials Work in process Finished goods Beginning Inventory $30,000 22,100 79,600 $26,800 45,200 69,900 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 $ 40, 800 1,100 62,800 35,700 23,700 236,700 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

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