Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Inventory balances at the beginning and end of the year were as follows: The total manufacturing costs added to production for the year were $675,000; the cost of goods available for sale totaled $730,000; the unadjusted cost of goods sold totaled $667,000; and the net operating income was $33,000. 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. (Hint: Prepare the income, statement and schedule of cost of goods sold first followed by the schedule of cost of goods manufactured.) Prepare an income statement for the year. Prepare a schedule of cost of goods sold. Superior Company Schedule of Cost Goods Manufactured