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 3t all raw materials are used in production as direct materials) 211,eee 265,808 Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $158,000 369,0ee 350,e99 Inventory balances at the beginning and end of the year were as follows: Beginning of $58,980 39,888 $ 37,00 End of Year Raw materials Work in process Finished goods ? $ 26,880 The total manufacturing costs for the year were $685,000 the cost of goods available for sale totaled $745.000: the unadjusted cost of goods sold totaled $664,000, and the net operating income was $37000. 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.) 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 09 COGS Statement Schedule Schedule Income COGM Prepare an income statement for the year Superior Company Income Statement Selling and administrative expenses Income Ssrnt COGS Schedule > 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 Schedule COGS COGM Schedule prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Adjusted cost of goods sold Income Statement COGM Schedule> 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. COGM COGS Statement Schedule Schedule Income Prepare a schedule of cost of goods manufactured.. Superior Company Schedule of Cost Goods Manufactured Direct materials Total raw materials available Raw materials used in production Total manufacturing costs Prev 2of3 , Next>