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

Statement $[$LO$3-3]$

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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Required $1$

Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.