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.) 2 Complete this question by entering your answers in the tabs below. 10 points Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. eBook References Superior Company Schedule of Cost Goods Manufactured Beginning work in process inventory Direct materials: Raw materials inventory, beginning $ 40,000 Add: Purchases of raw materials 290,000 Total raw materials available 330,000 Less: Ending raw materials inventory 10,000 Direct materials used in production Direct labor Manufacturing overhead applied to work in process Total manufacturing costs added to production Total manufacturing costs to account for Less: Ending work in process inventory Cost of goods manufactured $ 320,000 78,000 285,000 683,000 683,000 35,000 $ 690,000