4 6.25 points eBook Hint References SALOS Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods Required: Beginning $8,700 $5,800 Ending $10,700 $20,500 5 71,000 $ 25,100 3636,000 $ 89,000 $ 140,000 $ 104,000 $44,000 $ 223,000 $206,000 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Direct materials: Mason Company Schedule of Cost of Goods Manufactured Total raw materials available Direct materials used in production Total manufacturing costs added to production. Total manufacturing costs to account for Cost of goods manufactured < Prev 4 of 4 Next Chapter 3 Homework 4 6.25 points eBook The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Raw materials Beginning $ 8,700 Ending $10,700 $ 5,800 $ 20,500 Inventories. Work in process Finished goods $ 21,000 $ 25,100 Hint $ 656,000 $ 89,000 $140,000 $ 104,000 $44,000 $223,000 $206,000 References Seved 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. 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 overapplied overhead is closed to Cost of Goods Sold. Mason Company Schedule of Cost of Goods Sold The following data from the just completed year are taken from the accounting records of Mason Company: Sales Direct labor cost 6.25 points Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 656,000 $ 89,000 $140,000 $ 104,000 $ 44,000 $223,000 $ 206,000 Book Inventorien Beginning Raw materials $ 8,700 Work in process $5,800 Finished goods $ 71,000 Ending $10,700 $ 20,500 $25,100 Hent References Mc Graw 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. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement. Mason Company Income Statement Selling and administrative expenses: 0 $ 0 Required 3>