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I have some of the answers filled out but not all of them mework Saw The following data from the just completed year are taken
I have some of the answers filled out but not all of them
mework Saw 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 $524,000 $70,000 $110,000 $140,eee $ 63,000 $ 90,eee $ 80,000 Inventories Raw materials Work in process Finished goods Beginning Ending 5 7,000 5 15,00 $ 10,000 $5,000 $ 20,000 $35,000 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: Required 2 Required) 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 D ere to search o E @ https://ezto.mheducation.com/ext/map/index.html?con=con&external_br Homework 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 ma $ 10,000 Mason Company Schedule of Cost of Goods Manufactured Beginning work in process inventory Direct materials Beginning raw materials inventory 5 7.000 Add: Purchases of raw materials 118.000 Total raw materials available 125,000 Less Ending raw materials inventory 15.000 Direct materials used in production Direct labor Manufacturing overhead 70,000 90.000 Total manufacturing costs added to production Total manufacturing costs to account for Less Ending work in process inventory Cost of goods manufactured 160.000 170,000 5.000 Required 2 > re to search 0 1 E C. mework Complete this question by entering your answers in the tabs below. Required 1 Required 2 Reguired 3 Prepare an income statement. Mason Company 524.000 Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses Administrative expense $ Selling expenses 524.000 63.000 140.000 Net operating income 5 3 203.000 321.000 ere to search o dis Step by Step Solution
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