Superior Company provided the following account balances for the year ended December 31 (all raw materials are used in production as direct materials):

Selling expenses	$	216,000
Purchases of raw materials	$	260,000
Direct labor		?
Administrative expenses	$	150,000
Manufacturing overhead applied to work in process	$	372,000
Total actual manufacturing overhead costs	$	359,000

Inventory balances at the beginning and end of the year were as follows:

	Beginning of Year			End of Year
Raw materials	$	59,000		$	40,000
Work in process		?		$	32,000
Finished goods	$	31,000			?

The total manufacturing costs for the year were $690,000; the cost of goods available for sale totaled $720,000; the unadjusted cost of goods sold totaled $664,000; and the net operating income was $40,000. The companys overapplied or underapplied overhead is closed entirely to Cost of Goods Sold.

Required:

a.	Prepare a schedule of cost of goods manufactured.

b.	Prepare a schedule of cost of goods sold.

c.	Prepare an income statement for the year.