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i need help preparing a scehdule of cost of goods manufactured, cost of goods sold, and an income statement for the following. Superior Company provided

i need help preparing a scehdule of cost of goods manufactured, cost of goods sold, and an income statement for the following. image text in transcribed
Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials) Selling expenses Purchases of raw materials Direct labor Administrative Expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 215,000 $ 268,000 2 $ 157,000 $ 372,000 $ 357,000 nces Inventory balances at the beginning and end of the year were as follows: Beginning Ending Raw materials $ 55,000 $ 30,000 Work in process 2 $ 31,000 Finished goods $ 31,000 2 The total manufacturing costs added to production for the year were $685,000; the cost of goods available for sale totaled $745,000; the unadjusted cost of goods sold totaled $661,000; and the net operating income was $32,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.)

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