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Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Inventory belances at

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Superior Company provided the following data for the year ended December 31 (all raw materials are used in production as direct materials): Inventory belances at the beginning and end of the year were as folows: The total manufacturing costs edded to production for the year were $675,000; the cost of gocds avaiable for sale totaled $730,000; the unadusted cost of goods sold totaled $665,000, and the net operating income was $36.000. The company's underapplied or overapplied overhed is closed to Cost of Goods Sold. Required: Piepare schedules of cost of goods monufoctured and cost of goods sold and an income statement. (Hant: Prepare the income 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. Prepare an income statement for the year. Complete this question by entering your answers in the tabs below. Prepare a schedule of cost of goods sold. Prepare a schedule of cost of goods manufactured

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