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im sorry i could not get the images to rotate. Superior Company provided the following data for the year ended December 31 (oll raw materials

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im sorry i could not get the images to rotate.

Superior Company provided the following data for the year ended December 31 (oll raw materials are used in production as direct materials) olting experts Paraan of raw materials Direct labor dininintrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost S 213,000 $ 260,000 2 $ 159,000 $ 370,000 $ 353,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 54,000 $ 39,000 Work in proces ? $ 25,000 Finished goods $ 37,000 The total manufacturing costs for the year were $685,000, the cost of goods available for sale totaled $720,000; the unadjusted cost of goods sold totaled $669,000, and the net operating income was $39.000. 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.) Complete this question by entering your answers in the tabs below. 3 PROBLEMS Saved Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year. Superior Company Income Statement Sales Cost of goods sold Gross margin Solling and administrative expenses Selling expenses Anistrative exponses 0 0 Net operating income Prev 1 of 2 Next > 3 PROBLEMS Seved Complete this question by entering your answers in the tabs below. Schedust COGM Schedule Statement Prepare a schedule of cost of goods sold, $ 36,000 Superior Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add Cost of goods manufactured Cost of goods available for sale Loss Ending finished goods inventory Unadjusted cost of goods sold Less Overapplied overhead Adjusted cost of goods sold 720,000 Prev 1 of 2 !!! Next > R 3 PROBLEMS Complete this question by entering your answers in the tabs below. COGS Schedule co Schedule Statement Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials $ 54,000 260,000 Beginning raw materials inventory Add Purchases of raw materials lotal raw materials available Less Ending raw materials inventory Raw materials used in production Direct labor Munufacturing overhead cost Total manufacturing costs Add Ending work in process inventory 0 Cost of goods manufactured

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