3 1 points Exercise 3-6 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases eBook 101 Hint Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 652,000 $ 88,000 $ 140,000 $ 109,000 $ 41,000 $ 228,000 $ 201,000 Inventories Raw materials Work in process Print Finished goods References Beginning Ending $ 8,500 $ 10,400 $ 5,600 $ 20,400 $ 73,000 $ 25,100 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. 1 Required 1 Required 2 Required 3 3 points Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cost of Goods Manufactured eBook Direct materials: Hint Print Total raw materials available Direct materials used in production References Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured < Required 1 Required 2 > 0 0 1 Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. 3 points eBook Hint Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Mason Company Schedule of Cost of Goods Sold Print References < Required 1 Required 3 > 1 Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. 3 points eBook Required 1 Required 2 Required 3 Prepare an income statement. Hint Mason Company Income Statement Print Selling and administrative expenses: References 0 0 $ 0 < Required 2 Required 3 >