someone please make this make sense. make sure the answer is not cut off, or I will thumbs down
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 naterials Direct labor Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost $ 217,000 $ 265,000 $ 156,000 $ 363,000 $ 352,000 Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year Raw materials $ 53,000 $ 37,000 Work in process $ 24,000 Finished goods $ 37,000 ? The total manufacturing costs for the year were $675,000, the cost of goods available for sale totaled $730,000; the unadjusted cost of goods sold totaled $666.000; and the net operating income was $38,000. 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 (HintPrepare the income statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured X Answer is not complete. Complete this question by entering your answers in the tabs below. Income Statement COGS Schedule COGM Schedule Prepare an income statement for the year. $ 38,000 Superior Company Income Statement Sales Cost of goods sold Gross margin Selling and administrative expenses: Selling expenses 38,000 0 Income Statement COOS Schedule > Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost of Goods Sold Beginning finished goods inventory Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Less: Overapplied overhead Adjusted cost of goods sold Income Statement COGS Schedule COGM Schedule Prepare a schedule of cost of goods manufactured. Superior Company Schedule of Cost Goods Manufactured Direct materials: Beginning raw materials inventory $ 53,000 Add: Purchases of raw materials 265,000 Total raw materials available 318,000 Less: Ending raw materials inventory 37,000 Raw materials used in production Manufacturing overhead applied to work in process Total manufacturing costs Add: Beginning work in process inventory 0 Less: Ending work in process inventory Cost of goods manufactured