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need help asap!! will leave thumbs up!! Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior

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Problem 3-13 (Algo) Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement (LO3-3] Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Selling expenses $ 217, eee Purchases of raw materials $ 260,000 Direct labor Administrative expenses $ 157,000 Manufacturing overhead applied to work in process $ 368,000 Actual manufacturing overhead cost $ 350,000 Inventory balances at the beginning and end of the year were as follows: Beginning $ 51,000 Raw materials Work in process Finished goods Ending $ 39,000 $ 28,000 $ 32,eee The total manufacturing costs added to production for the year were $670,000, the cost of goods available for sale totaled $720,000; the unadjusted cost of goods sold totaled $670,000, and the net operating Income was $35,000. 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. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year

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