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Business, 15.04.2021 18:20 zone332

StorSmart Company makes plastic organizing bins. The company has the following inventory balances at the beginning and end of March: Beginning InventoryEnding Inventory Raw materials$28,500 $25,400 Work in process 21,100 46,300 Finished goods 79,000 68,400 Additional information for the month of March follows: Raw materials purchases$41,400 Indirect materials used 1,100 Direct labor 63,900 Manufacturing overhead applied 36,100 Selling, general, and administrative expenses 23,200 Sales revenue 236,400 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.

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