Chapter 3 316 EXERCISE 3-3 Schedules of Cont of Goods Manutactured and cast of Goods Sold; Income Statement |L06] The following data from the just completed year are taken from the accounting records of Eccles Company: : Salas.. Direct labor cost Raw material purchases Selling expenses... Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $643.000 $90,000 $132.000 $100,000 $43,000 $210.000 $220,000 Inventories: Beginning of Year $8,000 $5,000 $70,000 End of Year $10,000 - $20,000 $25,000 Raw materials Work in process Finished goods Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in produc- tion were direct materials. 2. Prepare a schedule of cost of goods sold. 3. Prepare an income statement