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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): Selling expenses$215,000 Purchases

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

Selling expenses$215,000

Purchases of raw materials$264,000

Direct labor?

Administrative expenses$155,000

Manufacturing overhead applied to work in process$365,000

Actual manufacturing overhead cost$354,000

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

Beginning of Year raw materials $58,000, work in process ___?___ the finished goods $36000

End of year Raw materials $58000 work in process $29,000 finished goods __?__

The total manufacturing costs for the year were $680,000; the cost of goods available for sale totaled $745,000; the unadjusted cost of goods sold totaled $669,000; and the net operating income was $38,000. 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.)

****basically need to make three things- an income statement, then schedule of cost of goods sold, then schedule of cost of goods manufactured. I managed to do some but couldnt figure some of missing informations as my answers seem not correct- it is possible i might be wrong with other numbers i came up with so would like to see if you can show me how to do them with formulas and i can see what and why i was wrong if any**

thank you

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