20 2. The following cost and inventory data are taken from the accounting records of Mason Company for the year just completed: Costs incurred: Direct labour cost . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Purchase of raw materials . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Indirect labour . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Maintenance, factory equipment . . . . . . . . . . . . . . . . . . . . . . . . . . Advertising expense . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Insurance, factory equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Sales salaries . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Rent, factories facilities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Supplies . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, office equipment . . . . . . . . . . . . . . . . . . . . . . . . . . . Depreciation, factory equipment . . . . . . . . . . . . . . . . . . . . . . . . . . $ 70,000 118,000 30,000 6,000 90,000 800 50,000 20,000 4,200 3,000 19,000 Inventories: Raw materials . . . . . . . . . . . . . . . . . . Work in process . . . . . . . . . . . . . . . . Finished goods . . . . . . . . . . . . . . . . . Beginning of the Year $ 7,000 10,000 20,000 End of the Year $ 15,000 5,000 35,000 Required: 1. Prepare a schedule of cost of goods manufactured in good form. 2. Prepare the cost of goods sold section of Mason Companys income statement for the year. Page 1 of 3