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Exercise 3 - 6 ( Static ) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [ LO 3 - 3

Exercise 3-6(Static) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income
Statement [LO3-3]
Mason Company provided the following data for this year:
Required:
Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost of Goods
Sold.
Prepare an income statement.
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Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.
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