can you please help me with the ones that I got wrong, and explain how you got the answer. i will rate. thank you
Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 218,000 $ 269,000 ? $ 151,000 $ 366,000 $ 355,000 Inventory balances at the beginning and end of the year were as follows: Raw materials Work in process Finished goods Beginning $ 50,000 ? $ 38,000 Ending $ 32,000 $ 23,000 ? The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $750,000; the unadjusted cost of goods sold totaled $660,000; and the net operating income was $38,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses $ 218,000 Administrative expenses 151,000 $ 1,001,000 > 594,000 407,000 369,000 38,000 Net operating income $ Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Add: Overapplied overhead Adjusted cost of goods sold $ 38,000 657,000 695,000 X 90,000 605,000 X 11,000 $ 594,000 X x *Bed teyt indicates no response was evnected in a cell or a formula-based calculation is incorrect. no points deducted

Question

can you please help me with the ones that I got wrong, and explain how you got the answer. i will rate. thank you image text in transcribed

Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 218,000 $ 269,000 ? $ 151,000 $ 366,000 $ 355,000 Inventory balances at the beginning and end of the year were as follows: Raw materials Work in process Finished goods Beginning $ 50,000 ? $ 38,000 Ending $ 32,000 $ 23,000 ? The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $750,000; the unadjusted cost of goods sold totaled $660,000; and the net operating income was $38,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses $ 218,000 Administrative expenses 151,000 $ 1,001,000 > 594,000 407,000 369,000 38,000 Net operating income $ Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Add: Overapplied overhead Adjusted cost of goods sold $ 38,000 657,000 695,000 X 90,000 605,000 X 11,000 $ 594,000 X x *Bed teyt indicates no response was evnected in a cell or a formula-based calculation is incorrect. no points deducted