Exercise 3-6 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 Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Kanufacturing overhead applied to work in process Actual manufacturing overhead costs 658,000 S 86,000 S 138,000 101,000 $44,000 s 201,000 s 222, 000 Raw materials Work in process Finished goods S 8,100 10, 600 5 5,700 2D,700 s 72,000 25,300 sRequired: 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 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 a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cost of Goods Manufactured Direct materials Total raw materials avalable