Work sheets for Bedthings, Inc., a manufacturing firm, are included in the Working Papers. Additional information for Bedthings for the months of March and April follow. Your instructor will guide you through the following examples.

1. Prepare a statement of cost of goods manufactured for March of the current year.
2. Prepare an income statement for March of the current year.
3. Prepare a balance sheet as of March 31 of the current year.

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Cost of Direct Materials Used to Produce Finished Goods Cost of Direct Labor Used to Produce Finished Goods Actual Factory Overhead March $110,950.00 82,165.00 Applied Factory Overhead Beginning Finished Goods Inventory Beginning Work in Process Inventory April $123,490.00 88,205.00 61,150.00 64,320.00 62,310.00 63,730.00 102,845.00 118,520.00 78,100.00 78,360.00