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Please fill in tables. Award: 35.00 points Problem 3-13 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement LO3-3] Superior Company

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Award: 35.00 points Problem 3-13 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 materils): Selling expenses $ 210,000 $ 268,000 Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost S 153,000 $ 368,000 $ 355,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials S 53,000 34,000 Work in process ? 24,000 Finished goods $ 39,000 The total manufacturing costs for the year were $680,000; the cost of goods available for sale totaled $730,000; the unadjusted bost of goods sold totaled $667,000, and the net operating income was $32.000. 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

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