1 Jones Corporation has provided the following data concerning last month's manufacturing operations. . L 3 Purchases of Raw Materials 4 Indirect materials included in manufacturing overhead 5 Direct labor 6 Manufacturing overhead applied to work in process 7 Actual manufacturing overhead costs 8 Sales 9 Selling expenses S 10 Administrative expenses E 11 12 Inventories Beginning 13 Raw Materials $12,000 14 Work in Process S $56,000 15 Finished Goods $35,000 $30,000 $5,000 $58,000 $87,000 $91,000 $310,000 $40,000 $70,000 Ending $18,000 $65,000 $42,000 16 17 18 Required: 19 1. Prepare a schedule of cost of goods manufactured for the month. 20 2. Prepare a schedule of cost of goods sold for the month. 21 3. Prepare an income statement for the month. Schedule of Cost of Goods Manufactured 25 Beginning Raw Material Inven 0 27 Add: Sheet1 Jxo M o n, choose Check for Updates. 17 18 Required: 19 1. Prepare a schedule of cost of goods manufactured for the month. 20 2. Prepare a schedule of cost of goods sold for the month. 21 3. Prepare an income statement for the month. Schedule of Cost of Goods Manufactured 25 Beginning Raw Material Inven 27 Add: 0 0 Add: Less 45 Cost of Goods Manufactured Schedule of Cost of Goods Sold Schedule of Cost of Goods Sold Beginning Finished Goods Inventory Add: Less/Plus: applied Manufacturing Overhead Less: Cost of Goods Sold mit in Income Statememt 0 OHNMONS ol 26 Net Income Sheet1