Exercise 3-6 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] The following data from the just completed year are taken from the accounting records of Mason Company Direct labor coat Rex zaterial purchases Selling expenas Administrative expense Manufacturing over had applied to work in process Actul staturing overhead coat 5 651,DDD 5 86,000 $ 139,000 5 102.000 $ 45,000 5 223,0DD 5 206, DDD Beginning Inventories Work in pro Tinished goods Ting $ 10,00 $ 20,500 $ 25, 300 5 71,000 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 underappled or overapplied overhead is closed to Cost of Goods Sold 3. Prepare an income statement