Ched my The following data from the just completed year are taken from the accounting records of Mason Company 15 Sales Direct labor coat Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs 6650,00 B1,00 $ 133,000 $ 104,000 $ 47,000 1226,000 $ 201,000 PRE erences Inventorien Raw materiale Work in proces Pinished goods Begirining Inding $3,600 10.100 $ 5,600 $ 20,400 $ 79,000 $ 25,300 Required: 1. Prepare a schedule of cost of goods manufactured. Assume al 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. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 5 points eBook Hint Mason Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials: Beginning raw materials inventory $ 8,600 Add: Purchases of raw materials 133,000 Total raw materials available 141,6001 Less: Ending raw materials inventory 10,300 Direct materials used in production $ Direct labor Manufacturing overhead Print References 131,300 81,000 226,000 0 Total manufacturing costs added to production Total manufacturing costs to account for Loss: Ending work in process inventory Cost of goods manufactured 438,300 438,300 (20,400) $ 417.900 Required Required 2 > 1 Required 1 Required 2 Required 3 5 points Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold look 79,000 Pri References Mason 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: Underapplied overhead Adjusted cost of goods sold PS TU 1 Required 1 Required 2 Required 3 5 points Prepare an income statement. Mason Company Income Statement Book Hint 0 Pro References Selling and administrative expenses 0