1 The following data from the just completed year are taken from the accounting records of Mason CC ats Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 656,000 $ 87,000 $ 136,000 $ 106,000 $ 49,000 $ 229,000 $ 200,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,400 $ 5,000 $ 72,000 Ending $ 10,600 $ 20,500 $ 25,300 Assignments: Fall 2020 Mar x Chapter 3 Consumer Behavi X Chapter 15 & 16 - Google DX| ducation.com/ext/map/index.html?_con=con&external_browser=0&launchUrl=https%253A%252F%252Fir Saved CEE: REQUIRED HOMEWORK Check my work mode : This shows what is correct or incorrect for the work you have comple Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were di 5,000 Mason Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Beginning raw materials inventory 8,400 Add: Purchases of raw materials 136,000 Total raw materials available 144,400 Less: Ending raw materials inventory 10,600 Direct materials used in production $ 133,800 Direct labor 87.000 Manufacturing overhead 229,000 0 Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 449,800 454,800 20,500 $ 243,700 Required 1 Required 2 > 3. Prepare an income statement. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overappli of Goods Sold. Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Less: Overapplied overhead Adjusted cost of goods sold 72,000 243,700 144,400 25,300 290,400 % 29,000 $ 261,400 3. Prepare an income statement. Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overappli of Goods Sold. Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Less: Overapplied overhead Adjusted cost of goods sold 72,000 243,700 144,400 25,300 290,400 % 29,000 $ 261,400
