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3. The following data from the just completed year are taken from the accounting records of Mason Company Sales S 660,000 Direct labor cost s82,000
3. The following data from the just completed year are taken from the accounting records of Mason Company Sales S 660,000 Direct labor cost s82,000 Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process s 200,000 S 130,000 s 105,000 S 40,000 Actual manufacturing overhead costs S 225,000 Raw materials $ 8,000 S 10,000 Work in process Finished goods 5,000 S 20,000 S 80,000 40,000 How much is the company's net operating income as reported in its income statement? a. $75,000 b. $45,000 c. $55,000 d. $40,000 e. None of the above
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