4 The following data from the just completed year are taken from the accounting records of Mason Company: eBook Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Ending $ 653,000 $ 85,000 $ 133,000 $ 109,000 $ 49,000 $ 224,000 $ 204,000 Beginning Raw materials Work in process $ 8,000 $ 10,200 $ 5,600 $ 20,300 Finished goods $ 71,000 $ 25,500 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 manufactured. Assume all raw materials used 4 Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 eBook 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 Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Add: Ending raw materials inventory Direct materials used in production Direct labor Work in process Manufacturing overhead Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 8,000 133,000 141,000 10,200 $ 130,800 85,000 5,600 224,000 445,400 445,400 20,300 < Required 1 Required 2 >