Mason Company provided the following data for this year:

Sales	$ 653,000
Direct labor cost	$ 83,000
Raw material purchases	$ 134,000
Selling expenses	$ 100,000
Administrative expenses	$ 47,000
Manufacturing overhead applied to work in process	$ 228,000
Actual manufacturing overhead costs	$ 201,000

Inventories	Beginning	Ending
Raw materials	$ 8,200	$ 10,600
Work in process	$ 5,900	$ 20,600
Finished goods	$ 74,000	$ 25,800

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 the company's underapplied or overapplied overhead is closed to Cost of Goods Sold.
3. Prepare an income statement.