SP-BUAC-020B Mana... y importance of bugs - Ya... M Question 5- CH 3 HW -... The company applies ma... Sign In or Sign Up | Cheg... G Your question was answ... C CH 3 HW i Saved Help Save & Exit 5 Exercise 3-6 Schedules of Cost of Goods Manufactured and Cost of Goods Sold; Income Statement [LO3-3] 2.5 The following data from the just completed year are taken from the accounting records of Mason Company: points eBook Hint Print Sales Direct labor cost Raw material purchases Selling expenses Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead costs Inventories Beginning Ending Raw materials $ 8,900 $ 10,500 Work in process Finished goods $ 5,400 $ 20,000 $ 77,000 $25,700 $ 658,000 $ 88,000 $ 133,000 $ 105,000 $ 41,000 $ 207,000 $ 224,000 References Required: 1. Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. 2. Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied 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 Check m SP-BUAC-020B Mana... y importance of bugs - Ya... M Question 5- CH 3 HW -... The company applies ma... Sign In or Sign Up | Cheg... G Your question was answ... C CH 3 HW i Saved Help Save & Exit 5 Complete this question by entering your answers in the tabs below. 2.5 Required 1 Required 2 Required 3 points eBook Prepare a schedule of cost of goods manufactured. Assume all raw materials used in production were direct materials. Mason Company Schedule of Cost of Goods Manufactured Direct materials: Beginning raw materials inventory Hint Add: Ending raw materials inventory Total raw materials available Print References Add: Ending raw materials inventory Raw materials used in production Direct labor Manufacturing overhead Total manufacturing costs Add: Beginning work in process inventory Less: Ending work in process inventory Cost of goods manufactured < Required 1 Required 2 > Check m SP-BUAC-020B Mana... y importance of bugs - Ya... M Question 5- CH 3 HW -... The company applies ma... Sign In or Sign Up | Cheg... G Your question was answ... C CH 3 HW i Saved Help Save & Exit 2.5 5 Complete this question by entering your answers in the tabs below. points Required 1 Required 2 Required 3 eBook Hint Prepare a schedule of cost of goods sold. Assume that the company's underapplied or overapplied overhead is closed to Cost of Goods Sold. Mason Company Schedule of Cost of Goods Sold Beginning finished goods inventory Print References Add: Cost of goods manufactured Cost of goods available for sale Less: Ending finished goods inventory Unadjusted cost of goods sold Add: Overapplied overhead Adjusted cost of goods sold < Required 1 Required 3 > Check m SP-BUAC-020B Mana... y importance of bugs - Ya... M Question 5- CH 3 HW -... The company applies ma... Sign In or Sign Up | Cheg... G Your question was answ... C CH 3 HW i Saved Help Save & Exit Check m 5 3. Prepare an income statement Complete this question by entering your answers in the tabs below. 2.5 points Required 1 Required 2 Required 3 Prepare an income statement. eBook Sales Hint Cost of goods sold Mason Company Income Statement Print References Gross margin Selling and administrative expenses: Selling expenses Administrative expense Net operating income 0 0 $ < Required 2 Required 3