Mason Company provided the following data for this year:

Sales$ $653,000$Direct labor cost$ $83,000$Raw material purchases$ $140,000$Selling expenses$ $101,000$Administrative expenses$ $45,000$Manufacturing overhead applied to work in process$ $228,000$Actual manufacturing overhead costs$ $210,000$

InventoriesBeginningEndingRaw materials$ $8,100$$ $10,700$Work in process$ $5,300$$ $20,300$Finished goods$ $74,000$$ $25,700$

Required:

Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials.

Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.

Prepare an income statement.