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 31 (all raw materials are used in production as direct materials): Selling expenses Purchases of raw materials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 218,000 $ 268,000 $ 156,000 $ 366,000 $ 352,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials Work in process Finished goods $59,00030,000 2 24,000 $ 30,000