Superior Company provided the following data for the year ended December 31 (all raw materials are used in production a materials) $ 213,000 269,000 Selling expenses Purchases of raw materials Direct labor $ 155,000 S363,000 S 352,000 Administrative expenses Manufacturing overhead applied to work in process Actual manufacturing overhead cost Inventory balances at the beginning and end of the year were as follows: Beginning of Year End of Year $ 40,000 51,000 Raw materials Work in process Finished goods 23,000 $32,000 The total manufacturing costs for the year were $680,000; the cost of goods available for sale totaled $725,000; the unad of goods sold totaled $670,000; and the net operating income was $38,000. The company's underapplied or overapplied closed to Cost of Goods Sold. Required: Prepare schedules of cost of goods manufactured and cost of goods sold and an income statement. (Hint: Prepare the inco statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Complete this question by entering your answers in the tabs below. Income COGS Schedule COGM Schedule Statement Prepare an income statement for the year. and Prepare a schedule of cost of goods sold And Prepare a schedule of cost of goods manufactured