Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Raw materials Beginning Ending $ 8,700 $ 10,500 Work in process $ 5,700 $ 20,400 Finished goods $ 74,000 $ 25,300 $ 653,000 $ 90,000 $ 139,000 $ 105,000 $ 49,000 $ 229,000 $ 206,000 Required: Prepare a schedule of cost of gocals manufactured. Assume all raw materials used in pro lirect materials. !. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overhead is closed to Cost of Goods Sold. 3. Prepare an income statement. Complete this question by entering your answers in the tabs below. Required 1 Required 2 Required 3 Prepare an income statement. Mairead Company Income Statement