2 The following data from the just completed year are taken from the accounting records of Mason Company: 10 points Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 652,000 $ 84.000 $ 137,000 $ 102,000 $ 46,000 $ 209,000 $ 221,000 02:56:42 Hint Inventories Raw materials Work in process Finished goods Beginning $ 8,900 $ 5,300 $ 71,000 Ending $ 10, 200 $ 20,400 $ 25,400 Print References Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. 3. Prepare an income statement