Homework The following data from the just completed year are taken from the accounting records of Mason Company, Sales Direct labor cost Rav material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Pinished goods Beginning $8,900 $5,200 $72,000 Ending $10,500 $ 20,700 $ 25,700 $ 659,000 $ 90,000 $132,000 $106,000 $ 46,000 $ 229,000 $ 204,000 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 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 available Direct materials used in production Total manufacturing costs added to production Total manufacturing costs to account for Cost of goods manufactured Required Required 2> 10 10 ! Work in pro Required 72, 1. Prepare a schedule of cost of goods manufactured Assume all raw materials used in production we 2. Prepare a schedule of cost of goods sold Assume that the company's underapplied or overapplied Goods Sold 3. Prepare an income statement Complete this question by entering your answers in the tabs below. F1 Mason Company Schedule of Cost of @ # Required 3> 80 F3 11 $ 1 2 3 4 OOO 000 F4 References 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 an Income statement. Mason Company Income Statement. Selling and administrative expenses: < Required 2 Retina 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 Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Work in process Finished goods. Required: Ending Beginning $ 8,900 $ 10,500 $ 5,200 $ 72,000 $ 20,700 $ 25,700 $ 659,000 $ 88,000 $ 132,000 $ 106,000 $ 46,000 $ 229,000 $ 204,000 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 Goods Sold. 3. Prepare an income statement.