e of $42,000. - in cach account, assuming 6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income EXERCISE 3-6 Schedules Statement L03-3 The following data from the Company: ving data from the just completed year are taken from the accounting records of Mason Sales Direct labor cost ... Raw material purchases... Selling expenses.... Administrative expenses..... Manufacturing overhead applied to work in process.... Actual manufacturing overhead costs...... $524,000 $70,000 $118,000 $140,000 $63.000 $90,000 $80,000 Inventories Beginning $7,000 $10,000 $20,000 Ending $15,000 $5,000 $35.000 Raw materials. .... Work in process.. Finished goods