Exerclse $3\mathrm{.}6($Algo$)$ Schedules of Cost of Goods Menufectured 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.

$2$ Prepare a schedule of cost of goods sold. Assume the compony's underopplied or overopplied overheod is closed to Cost of Goods

Sold.

Prepore 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.