Mason Company provided the following data for this year: 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 Beginning $9,000 Ending $ 10,100 $ 5,700 $ 20,800 $ 76,000 $ 25,800 $ 656,000 $ 84,000 $ 136,000 $ 103,000 $ 46,000 $ 226,000 $ 205,000 Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials 2. Prepare a schedule of cost of goods sold. Assume the company's underapplie 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 materia Mason Company Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory Add: Purchases of raw materials Total raw materials available Less: Ending raw materials inventory Direct materials used in production Direct labor Manufacturing overhead Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured 9,000 136,000 145,000 10,100 Required 2 > 0 0 Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume the company's underapplied or overapplied overhead is closed to Cost c Goods Sold. Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Less: Overapplied overhead Adjusted cost of goods sold HARMO < Required 1 A 76,000 Required 3 > SONY SER a P 32 ^ Required 1 Required 2 Required 3 Prepare an income statement. Mason Company Income Statement Selling and administrative expenses: $ < Required 2 0 0 0