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 Decemb materlals) used in production as direct nber 31 (all raw materlals are Selling expenses Purchases of raw materials Direct labar Administrative expenses Manufacturing overhead applied te work in process Actual manufacturing overhead cost 216,e00 264,000 160,000 372,0e0 ass,e00 Inventory balances at the beginning and end of the year were as follows Beginning of Year End of Year Raw aterials work in Process Finished goods 59,ee0 31,0ee 32.0e0 38,000 The total manufacturing costs for the year were $690,000; the cost of goods available for sale totaled $750,000: the unadjusted cost of goods sold totaled $661,000; and the net operating income was $35,000. 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 stotement (Hint Prepare the income statement and schedule of cost of goods sold first followed by the schedule of c0st of goods manufactured) Complete this question by entering your answers in the tabs below. 818 w ere to search 7/21/2 $7 Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an Income statement. (Hint Prepar statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complebe this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income sitatement for the year Superior Company Income Statement Sales 661.000 Cost of goods sold Gross margin 001,000 Selling andadministrative expenses: Selling expenses Administrative expenses Net operating income COGS Schedule P ere to search Che 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 CoGS Scheldule COGM Schedule Statement Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Adjusted cost of goods soid Income Stastement COGM Schedule re to search Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an Income statement (Hint: Prepare the 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 e tabs below. Income Statement COGS Schedule COGM Schefule 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 Cost of goods manufactured COGS Schedule