1 Helo Superior Company provided the following data for the year ended December 31 raw materials tre used in production as direct materia 00:49:25 Telling op Purchase of water Direct labor Mistrative expenses Manufacturing overhead applied to work in D Actualmfactoring overhead coat 210,000 154.000 13.00 $35.000 Inventory batances at the beginning and end of the year were as follows: ogne Ending Raw materiale $50,000 $ 11,000 work in proces $26.000 Finished goodie 338.000 > The total manufacturing costs added to production for the year were $675.000; the cost of goods avalable for sale totaled $720,000 the unadjusted cost of goods sold totaled $667000, and the net operating income was $40,000. The company's underapplied or overapplied overhead is closed to cost of Goods Sold Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials: 00464 Selling expenses Purchases o materiale Direct labor Administrative expenses Manufacturing overhead applied to work in process Retual manufacturing overhead coat 216.000 267.000 154.000 53,000 359.000 Inventory balances at the beginning and end of the year were as follows: Beginning Ending Raw materiais $ 54.000 $31.000 Work in process 5.26.000 Finished goods $ 30,000 The total manufacturing costs added to production for the year were $675.000; the cost of goods available for sale totaled $720,000; the unadjusted cost of goods sold totaled $667000, and the net operating income was $40,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year