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Problem 3-13 (Algo) Schedules of Cost of Goods Menufactured and Cost of Goods Sold; Income Statement [LO3-3] Superior Company provided the following data for the

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Problem 3-13 (Algo) Schedules of Cost of Goods Menufactured 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 cirect materials): Inventory balances at the beginning and end of the year were as follows: The total manufacturing costs added to production for the year were $680,000, the cost of goods avallable for sale totaled $735,000 the unadjusted cost of goods soid totaled $666.000; and the net operating income was $37,000. 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.) The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $735,000; the unadjusted cost of goods sold totaled $666,000, and the net operating income was $37000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Required: Prepare schedtiles of cost of goods manufactured and cost of goods sold and an income statement. (Hnt 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. Dropare an income statement for the yoar. Inventory balances at the beginning and end of the year were as follows: The total manufacturing costs added to production for the year were $680,000; the cost of goods available for sale totaled $735,000 the unadjusted cost of goods sold totaled 5666,000 , and the net operating income was $97,000. The company's underapplied or overapplied overhead is closed to Cost of Goods Sold Required: Prepare scheduies of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the income: statement and schedule of cost of poods sold firs followed by the schedule of cost of goods manufactured) Complete this question by entering your answers in the tabs below. frepare a sehedule of oise d ocods sold The total manulacturing costs added to production for the year were 5680,000 , the cost of good5 avallable for sale totaled $735, 000; the unadjusted cost of goods sold totaied $666,000; and the net operating income was $37,000. The company's underapplied or overapplied ovethead is closed to Cost of Goods Sold Required: Prepsre schedules of cost of ghoods manuifactured and cost of goods sold and an income statement (Hint Prepare the income statement and schedale of cost of poods sold first followed by the schedule of cost of poods manufactured). Complete this question by entering your answers in the tabs betow. Popare aschaduln ct osit of goods manufactuted

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