Got stuck and have a couple unanswered and wrong.
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 Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 656,000 $ 82,000 $ 132,000 $ 103,000 $ 47,000 $ 228,000 $ 207,000 Inventories Raw materials Work in process Pinished goods Beginning $ 8,200 $ 5,800 $ 75,000 Ending $ 10,100 $ 20,200 $ 25,800 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 underapplied or overapplied overhead is close- 3. Prepare an income statement. Goods Sold. Answer is not complete. 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. Your answers Le Laus DEUW. 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: Beginning raw materials inventory Add. Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Direct materials used in production Direct labor Manufacturing overhead 8,200 132,000 140,200 10,100 300 3 $ 130,100 82,000 228,000 Total manufacturing couts added to production Total manufacturing costs to account for Loss Ending work in process inventory Cont of goods manufactured 440,100 440,100 20,200 Raque Required 2 > Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory 75,000 Add: Cost of goods manufactured Cost of goods available for sale Lens: Ending finished goods inventory 25,800 Unadjusted cost of goods sold Less: Underapplied overhead 21,000 Adjusted cost of goods sold Answer is not complete. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Requirid 3 Prepare an income statement. 656,000 Mason Company Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Selling expenses $ 103.000 Administrative expense 47,000 656,000 150,000 $ 506,000 Net operating income