plete this question by entering your answers in the tabs below. mired 1 Required 2 d on the above information, prepare an income statement for the month of March. STORSMART COMPANY Income Statement For the Month of March
plete this question by entering your answers in the tabs below. mired 1 Required 2 d on the above information, prepare an income statement for the month of March. STORSMART COMPANY Income Statement For the Month of March
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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
Transcribed Image Text:Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Based on the above information, prepare an income statement for the month of March.
STORSMART COMPANY
Income Statement
For the Month of March
Sales Revenue
Less: Cost of Goods Sold
Beginning Finished Goods Inventory
Cost of Goods Sold
Gross Profit
Selling, General, and Administrative Expenses
Net Income (Loss) from Operations
< Required 1
Required 2>

Transcribed Image Text:Storsmart Company makes piasuC organizing Diis. ine company nas une roHowing inveniory vaiances at une beginning and eno or
March:
Raw materials
Work in process
Finished goods
Beginning
Inventory
$28, ৪00
22,400
79,100
Ending
Inventory
$25,300
46,200
68,200
Additional information for the month of March follows:
Raw materials purchases
Indirect materials used
Direct labor
Manufacturing overhead applied
Selling, general, and administrative expensen
Sales revenue
5 40,200
1,400
63,200
36,400
24,100
236,200
ces
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,
Complete this question by entering your answers in the tabs below.
Required 1
Required 2
Based on the above information, prepare a cost of goods manufactured report.
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