Chapter 3 - Homework Saved 1 The following data from the just completed year are taken from the accounting records of Mason Company: 10 points Sales Direct Labor cont Raw material purchases Selling expenses Administrative expenses Manufacturing overhead appl led to work in process Actual manufacturing over head costs $ 654,000 $ 85,000 S 134,000 $ 110,000 549.000 $ 221,000 $ 205,000 look Hint Inventories Raw materials Work in process Finished goods Beginning Ending $8.100 5 10.800 $5,300 $ 20,600 $ 76,000 $ 25,700 Purt 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 References Complete this question by entering your answers in the tabs below. Required: Required 2 Required 3 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 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. Mason Company Schedule of Cost of Goods Manufactured Direct materials: Total raw materials available Direct materials used in production 0 Total manufacturing costs added to production Total manufacturing costs to account for 0 Cost of goods manufactured Required 2 > 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 1 1 Goods Sold. 3. Prepare an income statement 10 Doints Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 eBook Prepare an income statement. Mason Company Income Statement Hint Print 0 Selling and administrative expenses References 0 0