Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cost of Goods Manufactured Direct materials Beginning raw materials inventory $ 8,600 Add: Purchases of raw materials 138,000 Total raw materials available 146,600 10.900 Raw materials used in production Direct labor Manufacturing overhead Total manufacturing costs Add Beginning work in process inventory 89,000 203.000 5,700 5.700 20.900 Less: Ending work in process inventory Cost of goods manufactured Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory 79,000 Add Cost of goods manufactured Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required) Prepare an income statement. Mason Company Income Statement 0 Selling and administrative expenses 0 0 The following data from the just completed year are taken from the accounting records of Mason Company Sales Direct Labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs $ 650,eee $ 89,000 $ 138,000 $ 109,000 $ 47,000 $ 20,000 $225,000 Inventories Raw materials Work in process Finished goods Beginning $ 8,600 $ 5,700 $ 79,00 Ending $ 10,900 $ 20,900 $ 25,600 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 that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold 3. Prepare an income statement